Taiwan shares end down on resurging worry over global trade

Focus Taiwan
Date: 2019/07/17
By: Frances Huang

Taipei, July 17 (CNA) Shares in Taiwan closed lower Wednesday amid renewed concerns among investors about the trade frictions between the United States and China following recent downbeat comments on the issue by United States President Donald Trump, dealers said.

Selling focused on the bellwether electronics sector, which could be hardest hit by the global trade war, as investors locked in their recent gains, while old economy and financial stocks generally moved lower in line with the broader market, dealers said.

Market sentiment was also affected by dwindling hopes of an interest rate cut by the U.S. Federal Reserve after Washington reported better than expected retail sales for June, dealers said.

The weighted index on the Taiwan Stock Exchange (Taiex) ended down 57.57 points, or 0.53 percent, at 10,828.48, after moving between 10,804.34 and 10,861.11. Turnover totaled NT$112.88 billion (US$3.63 billion) during the session.    [FULL  STORY]

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