Taiwan shares end lower but come off early low

Focus Taiwan
Date: 2018/06/26
By: Frances Huang

Taipei, June 26 (CNA) Shares in Taiwan closed moderately lower on Tuesday after recovering from an early low caused by escalating trade tensions between the United States and China, dealers said.

With contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) in the doldrums, the bellwether electronics sector led the downturn, while certain old economy stocks, in particular in the petrochemical sector, posted gains to give some support to the broader market, they said.

The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex ended down 44.29 points, or 0.41 percent, at 10,742.17, after moving between 10,651.42 and 10,752.99, on turnover of NT$140.70 billion (US$4.63 billion).

The market opened down 55.56 points, or 0.52 percent, in the wake of steep losses in the United States, where the Dow Jones Industrial Average closed down 1.33 percent and the tech-heavy Nasdaq index closed down 2.09 percent overnight, dealers said.

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