Taiwan shares close up but come off high

Focus Taiwan
Date: 08/24/20202
By: Frances Huang

Taipei, Aug. 24 (CNA) Shares in Taiwan closed moderately higher Monday after coming off a high as investors pocketed their earlier gains amid lingering concerns over escalating tensions between the United States and China, dealers said.

The bellwether electronics sector served as a driver to the upturn on the broader market despite late session selling to cap the gains, while non-tech stocks largely appeared mixed throughout the session, they said.

The weighted index on the Taiwan Stock Exchange (TWSE), or the Taiex, ended up 39.29 points, or 0.31 percent, at 12,647.13, after moving between 12,567.95 and 12,702.94, on turnover of NT$203.87 billion (US$6.93 billion).

"Today's gains were largely driven by the higher electronics sector, led by select Apple concepts stocks, in the wake of a new Nasdaq high," Ta Chan Securities analyst Jerry Chen said.

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