Shares edge higher to close at 8,466.84, led by food­stuff, textile stocks

The China Post - - TAIWAN BUSINESS -

Shares in Tai­wan inched up Mon­day thanks to the strong per­for­mance of the food­stuff and textile sec­tors, deal­ers said.

The weighted in­dex on the Tai­wan Stock Ex­change closed up 24.55 points, or 0.29 per­cent, at 8,466.84, af­ter mov­ing be­tween 8,374.08 and 8,484.18. Turnover to­taled NT$78.29 bil­lion ( US$2.47 bil­lion) dur­ing the ses­sion.

The food­stuff sec­tor rose 3.68 per­cent, while the textile sec­tor climbed 3.23 per­cent. The ship­ping sec­tor, mean­while, in­creased 2.88 per­cent as in­ter­na­tional oil prices re­mained low.

Although shares of com­pa­nies in Ap­ple Inc.’s sup­ply chain re­bounded Mon­day, the over­all up­ward mo- men­tum was weak.

Lar­gan Pre­ci­sion Co. ( ), a smart­phone lens sup­plier to Ap­ple Inc., saw its share price re­bound to NT$3,000 at one point Mon­day, but selling set in to­ward the end of the ses­sion and the stock ended at NT$2,985.

Tai­wan Semi­con­duc­tor Man­u­fac­tur­ing Co. (TSMC, ), the most heav­ily weighted stock on the lo­cal mar­ket, fell 3.01 per­cent to close at NT$129 in the wake of re­ports that Ap­ple Inc. had cut or­ders to TSMC for the A9 CPU for up­com­ing iPhones. That share price was the low­est recorded by TSMC so far this year.

For­eign in­sti­tu­tional in­vestors sold a net NT$1.37 bil­lion worth of lo­cal shares Mon­day.

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