Focus Taiwan
Date: 07/16/2020
By: Frances Huang

Taipei, July 16 (CNA) Shares in Taiwan moved lower Thursday ahead of a Taiwan Semiconductor Manufacturing Co. (TSMC) investor conference scheduled after the market close, dealers said.

With TSMC shares coming under downward pressure as investors locked in profits built in recent sessions, buying rotated to other tech stocks, in particular in the Apple Inc. supply chain, as well as select old economy stocks, which kept the broader market from falling further, they said.

The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex closed down 45.11 points, or 0.37 percent, at 12,157.74, after moving between 12,107.04 and 12,220.93, on turnover of NT$197.6 billion (US$6.7 billion).

The market opened down 0.24 percent as investors shrugged off gains posted on the U.S. markets, where the Dow Jones Industrial Average ended up 0.85 percent on hopes of COVID-19 vaccine development, dealers said.   [FULL  STORY]