Taiwan shares end down as TSMC stumbles

Focus Taiwan
Date: 07/31/2020
By Frances Huang

Taipei, July 31 (CNA) Shares in Taiwan moved lower Friday after markets in the United States tumbled due to a record economic contraction in the U.S. in the second quarter, dealers said.

The bellwether electronics sector came under pressure and dragged down the broader market, led by contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), which saw its American depositary receipts fall more than 3 percent Thursday.

The weighted index on the Taiwan Stock Exchange (TWSE), the Taiex, ended down 58.12 points, or 0.46 percent, at 12,664.8, after moving between 12,635.71 and 12,733.48. Turnover was NT$207.84 billion (US$7.08 billion).

The market opened down 0.55 percent in reaction to a 0.85 percent decline by the Dow Jones Industrial Average, which fell on news that U.S. gross domestic product contracted 32.9 percent in the second quarter, dealers said.    [FULL  STORY]

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