‘NO SURPRISE’:Hua Nan Securities Investment Management chairman David Chu said that the US-China trade dispute would continue to affect markets worldwide

Taipei Times
Date: Sep 29, 2019
By: Staff writer, with CNA and AFP

Local shares on Friday moved lower as lingering concerns over trade friction between the US and China offset gains posted by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), dealers said.

Although Washington and Beijing are to resume high-level negotiations in the US on Oct. 10, local investors took a wait-and-see attitude and reduced their stock holdings in favor of cash, they said.

The TAIEX on Friday ended down 42.31 points, or 0.39 percent, at 10,829.68, after moving between 10,827.61 and 10,921.17, on turnover of NT$121.61 billion (US$3.92 billion). That was a drop of 0.9 percent from a close of 10,929.69 on Sept. 20.

The market opened up 0.29 percent to surpass 10,900 points on a technical rebound from a session earlier, when the weighted index edged lower, and moved to the day’s high early in the morning, dealers said.    [FULL  STORY]