CURRENCY WINDFALL:The strength of the greenback and an upward swing on Wall Street after solid US corporate earnings pushed up major markets across Asia
Taipei Times
Date: Oct 29, 2017
By: Staff writer, with CNA and AFP
Shares in Taiwan on Friday closed lower after investors locked in gains amid concerns that a move by the European Central Bank (ECB) to cut their purchases of bonds in half will hurt foreign fund flows, dealers said.
Selling in the stock market focused on many large-cap electronics stocks, although Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished in positive territory, but the financial sector was resilient, keeping the broader market from falling further, they said.
The TAIEX on Friday closed down 25.65 points, or 0.24 percent, at 10,709.11, after moving between 10,701.08 and 10,803.60 on turnover of NT$146.37 billion (US$4.83 billion). That was a decrease of 0.18 percent from a close of 10,728.88 on Oct. 20.
The market on Friday opened up 0.21 percent and moved higher to breach the 10,800-point mark midway through the morning as investors responded to a 0.31 percent increase in the Dow Jones Industrial Average and a 0.13 percent rise in the S&P 500 overnight on strong corporate earnings, dealers said.
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