By: Frances Huang, Central News Agency
Shares in Taiwan closed higher on Monday as the bellwether electronics sector trended higher, led by large cap high-tech stocks such as contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電). These helped the broader market offset selling in the old economy and financial sectors, dealers said.
Despite the upturn, turnover remained thin as many investors remained on the sidelines, waiting for the release of more corporate results during the on-going earnings seasons at home and on Wall Street, they said.
The weighted index on the Taiwan Stock Exchange ended the day up 15.93 points, or 0.17 percent, at 9,322.50, after moving between 9,308.53 and 9,343.57, on turnover of NT$56.76 billion (US$1.79 billion).
The market opened up 0.29 percent as TSMC, the most heavily weighted stock on the market, posted gains, and momentum continued until the end of the session with the chip maker and other high-tech heavyweights, including smartphone camera lens supplier Largan Precision Co. (大立光) moving higher, dealers said. [FULL STORY]