TSE shares fall but remain above 7,800 points


CNA

TAIPEI–Shares in Taiwan fell on Tuesday, apparently affected by the 200-point decline in the Dow Jones Industrial Average overnight, but the market’s benchmark index remained above the 7,800-point mark, dealers said.

The weighted index on the Taiwan Stock Exchange closed down 65.48 points, or 0.83 percent, at 7,828.67 Tuesday on thin turnover of NT$61.54 billion (US$1.83 billion).

The market opened at 7,832.10 and dropped below the 7,800-point level at one point but recovered later in the session.

All major share sub-indexes lost ground, with the financial sub-index falling the most at 1.49 percent.

China Development Financial Holding Co. (開發金) was one of the few financial institutions to buck the trend, posting a 6.19 percent gain to close at NT$7.72.

In the electronics sector, the biggest gainer was smartphone camera lens supplier Largan Precision Co. (大立光), which surged 7.95 percent to close at NT$2,240.

With only seven trading days left before the Lunar New Year holiday, analysts said uncertainties in international equity markets will lead Taiwanese investors to minimize their holdings through the holiday period.

This fear of being stuck with too many stocks heading into the long holiday has been a factor in the anemic turnover seen in Taiwan in recent days, they said.