Taiwan shares extend losses on thin turnover

The China Post
Date: December 24, 2016

TAIPEI — Shares in Taiwan extended losses from the previous session on Friday, when trading volume continued to shrink with more foreign institutional investors away for the upcoming Christmas holiday, dealers said.

Market sentiment turned more cautious with foreign institutional investors in the local equity market cutting their holdings in large-cap stocks, while fears over a possible pullback on Wall Street also prompted investors to pocket their money for the moment, they said.

The weighted index on the Taiwan Stock Exchange (TWSE) closed down 40.11 points, or 0.44 percent at 9,078.64, off an early high of 9,128.83 on Friday with turnover of NT$52.56 billion (US$1.64 billion).

The market opened down 6.42 points on follow-through selling from Thursday as investors took their cue from losses posted on Wall Street, where the Dow Jones Industrial Average ended down 0.12 percent and the tech-heavy NASDAQ index closed 0.44 percent lower overnight, dealers said.    [FULL  STORY]

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