TAIEX dips amid cautious sentiment

TECHNICAL EFFECTS:KGI Securities analyst Phil Chu said that the market has been consolidating, with resistance on the main board and support for the weighted index

Taipei Times
Date: Feb 26, 2017
By: Staff writer, with CNA and Bloomberg

Shares in Taiwan on Friday closed slightly lower on reduced turnover as investors turned cautious ahead of the 228 Memorial Day holiday long weekend, dealers said.

Selling focused on select large-cap non-high-tech stocks, in particular petrochemical and financial firms, to push down the weighted index, but the semiconductor sector bucked the downturn, bolstering the electronics sector and the broader market, they said.

The weighted index on the Taiwan Stock Exchange ended down 18.84 points, or 0.19 percent, at 9,750.47, after moving between 9,740.18 and 9,784.39. The index was down 0.1 percent from its close of 9,759.76 on Feb. 17.

Turnover on Friday was NT$89.69 billion (US$2.93 billion), down from Thursday’s NT$101.07 billion.    [FULL  STORY]

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