Taiwan shares lose ground in wake of Wall Street fall

Taipei-Shares in Taiwan were down Wednesday, closing below the 10,552-point mark following a fall on Wall Street overnight.

The weighted index on the Taiwan Stock Exchange closed down 69.98 points, or 0.66 percent, at 10,547.86, after moving between 10,519.71 and 10,604.92, on turnover of NT$119.76 billion (US$3.98 billion).

The bellwether electronics sector dropped 0.68 percent, while the financial sector fell 0.73 percent.

Among the electronics heavyweights, smartphone camera lens supplier Largan Precision Co. (???) ended 0.67 percent lower at NT$5,895, and contract chip maker Taiwan Semiconductor Manufacturing Co. (???) finished 0.46 percent lower at NT$217.

Hon Hai Precision Industry Co. (??), meanwhile, closed down 0.86 percent at NT$115.5.

In the financial sector, Cathay Financial Holding Co. (???) lost 1.13 percent to close at NT$48.30 and Fubon Financial Holding Co. (???) dropped 1.04 percent to end at NT$47.60.

CTBC Financial Holding Co. (???) fell 0.77 percent to finish at NT$19.35.

Foreign institutional investors sold a net NT$4.11 billion-worth of local shares on Wednesday.

Source: Focus Taiwan News Channel