Focus Taiwan
Date: 2018/02/05
By: Chang Liang-chih and Frances Huang

Taipei, Feb. 5 (CNA) Taiwan shares came under heavy pressure in the mid-morning

CNA file photo

session Monday as investors took their cue from a dive on Wall Street at the end of last week amid rising fears over higher interest rates in the U.S., dealers said.

Selling focused on large cap stocks such as contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) and iPhone assembler Hon Hai Precision Industry Co., the top two stocks on the local market in terms of market value, pushing the broader market below the nearest technical support at 11,068 points, the 20-day moving average, when the market opened, they said.

As of 10:52 a.m., the weighted index on the Taiwan Stock Exchange had shed 232.48 points, or 2.09 percent, at 10,893.75 on turnover of NT$72.53 billion (US$2.48 billion).
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