Taiwan shares end below 9,300 point mark

Taiwan News
Date: 2016/10/27
By: By Frances Huang, Central News Agency

Shares in Taiwan moved lower to close below the 9,300-point mark Thursday, as the bellwether electronics sector encountered relatively heavier downward pressure in the wake of losses incurred on the tech-heavy NASDAQ index in the U.S. market overnight, dealers said.

Among the falling electronics stocks on the main board, suppliers to Apple Inc. led the downturn as investors took cues from a plunge in Apple shares overnight on its disappointing results, while old economy stocks also faced selling due to investors locking in their earlier gains, the dealers said.

Market sentiment remained cautious during the ongoing earnings season amid lingering fears that local export-oriented high-tech firms will report foreign exchange losses for the third quarter due to a stronger Taiwan dollar, they said.

The weighted index on the Taiwan Stock Exchange closed down 62.70 points, or 0.67 percent, at 9,299.55, after moving between 9,286.86 and 9,370.32, on turnover of NT$66.45 billion (US$2.10 billion).    [FULL  STORY]

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