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