Taipei Times
Date: Jan 07, 2018
By: Staff writer, with CNA and AFP
Local shares on Friday closed moderately higher as late buying helped the broader market recoup earlier losses, but the main board was in consolidation mode throughout the session after solid gains over the previous few days, dealers said.
The last-ditch buying focused on the three largest cap stocks in the local equity market — Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), iPhone assembler Hon Hai Precision Industry Co (鴻海精密) and Formosa Petrochemical Corp (台塑石化) — pushing the broader market into positive territory, they said.
Sentiment has turned cautious, capping the recent upturn, as many investors wait for the upcoming earnings season, with smartphone camera lens supplier Largan Precision Co (大立光) having scheduled an investor conference for Thursday, they added.
The TAIEX on Friday closed up 31.17 points, or 0.29 percent, at the day’s high of 10,879.80, off an early low of 10,815.68, on turnover of NT$140.86 billion (US$4.77 billion). That was an increase of 2.2 percent from a close of 10,642.86 on Dec. 29 last year. [FULL STORY]