By: Frances Huang
Taipei, Jan. 21 (CNA) Shares in Taiwan continued their momentum from the previous session to close higher Monday, with local investors encouraged by gains posted by U.S. markets at the end of last week amid hopes the United States and China are moving toward a resolution of their trade disputes, dealers said.
Buying was apparent in the bellwether electronics sector, led by contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) as bargain hunters picked up the stock, which had been hammered by its lower than expected sales guidance for the first quarter, they said.
Turnover remained moderate as the on-going earnings season in Taiwan and on Wall Street has turned some investors away from the local main board, and such caution also led some investors to shift to the sell side, preventing the broader market from ending above 9,900 points, dealers said.
The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex ended up 53.34 points, or 0.54 percent, at 9,889.40, after moving between 9,870.27 and 9,919.94, on turnover of NT$91.79 billion (US$2.98 billion). [FULL STORY]