Taiwan shares stage mild rebound

Focus Taiwan
Date: 2018/06/20
By: Frances Huang

Taipei, June 20 (CNA) Shares in Taiwan staged a technical rebound Wednesday from

CNA file photo

a plunge seen a session earlier as select large-cap stocks in both the electronics and non-high-tech sectors attracted bargain hunting, dealers said.

The gains, however, were limited, as market sentiment remained uneasy over escalating trade tension between the United States and China, as well as lingering concerns over a fund outflow from the country in the wake of weakness of the Taiwan dollar, the dealers said.

The weighted index on the Taiwan Stock Exchange, or Taiex, closed up 23.25 points, or 0.21 percent, at 10,927.44, after moving between 10,842.56 and 10,969.20, on turnover of NT$178.06 billion (US$5.90 billion).

The market opened up 0.61 points and soon fell into consolidation mode after a 1.65 percent dive a day earlier caused by fear of a possible trade war between Washington and Beijing after the two sides announced that they will impose tariffs on each other’s goods, the dealers said.    [FULL  STORY]

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