By: Chung Jung-feng and Frances Huang
While the market suffered profit-taking selling almost across the board later in the session, iPhone assembler Hon Hai Precision Industry Co. stayed up throughout the day to prevent the broader market from falling into negative territory at the end, they said.
The weighted index on the Taiwan Stock Exchange (TWSE), the Taiex, closed up 1.59 points, or 0.01 percent, at 10,642.63, after moving between 10,627.01 and 10,735.07, on turnover of NT$153.06 billion (US$4.97 billion).
The market opened up 0.69 percent as investors responded to upturns on U.S. markets Friday, when the Dow Jones Industrial Average closed up 0.82 percent and the tech-heavy Nasdaq ended up 0.78 percent amid optimism that a deal between Washington and Beijing to resolve their trade dispute could soon get done, dealers said. [FULL STORY]