Taiwan shares steam ahead as Wall Street gains

Focus Taiwan
Date: 2018/08/28
By Frances Huang 

Taipei, Aug. 28 (CNA) Shares in Taiwan extended their momentum from the previous session early on Tuesday with local investors motivated by a higher Wall Street, on the back of a trade deal reached by the United States and Mexico, to buy into local equities, dealers said.

Rotational buying dominated the main board with interest focusing on large cap electronics stocks, in particular contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, they said.

However, the main board failed to sustain its earlier strength and ended the session below the 11,000 point mark as trade friction between the U.S. and China continued to weigh on the market, they added.

The weighted index on the Taiwan Stock Exchange (TWSE) or the Taiex closed up 87.34 points, or 0.80 percent, at 10,989.55, after moving between 10,946.33 and 11,005.55, on turnover of NT$127.67 billion (US$4.15 billion).    [FULL  STORY]