VOLATILITY: Across the Asia-Pacific region, dealer sentiment has turned pessimistic due to fears of a global trade war contrasted against a positive economic outlook

Taipei Times
Date: Mar 18, 2018
By: Staff writer, with CNA and AFP

Local shares on Friday closed slightly higher after the main board recovered its earlier losses on bargain hunting, pushing the TAIEX back into positive territory and helping the market remain above the 11,000-point mark at the end of the session, dealers said.

Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the most heavily weighted stock on the local market, was the favorite of bargain hunters during the session, while buying in other select large-cap stocks also helped the broader market close above its previous closing level, they said.

The TAIEX on Friday ended up 9.25 points, or 0.08 percent, at 11,027.70, after moving between 10,933.46 and 11,054.86, on turnover of NT$165.97 billion (US$5.68 billion). That was an increase of 1.5 percent from a close of 10,864.82 on March 9.

The market opened down 8.21 points on follow-through selling from the previous session and downward pressure escalated, with market heavyweights in the bellwether electronics sector in focus as local investors were motivated by 0.2 percent losses incurred by the tech-heavy NASDAQ overnight, dealers said.    [FULL  STORY]