Taiwan shares edge lower, but index still above 10,000 points

Focus Taiwan
Date: 2017/05/16
By: Jeffery Wu and Frances Huang

Taipei, May 16 (CNA) Shares in Taiwan closed slightly lower Tuesday as the

(CNA file photo)

bellwether electronics sector lost ground, led by chip maker Taiwan Semiconductor Manufacturing Co. (TSMC,台積電), the most heavily weighted stock in Taiwan’s stock market, dealers said.

Market sentiment took a hit after MSCI Inc. cut Taiwan’s weighting in the MSCI Emerging Markets Index, which is closely watched by foreign investors, they said.

Despite selling in the high-tech sector, the old economy and financial sectors remained resilient to support the broader market, helping the weighted index remain above the 10,000-point mark at the close, dealers said.    [FULL  STORY]

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