Taiwan shares edges higher

Taipei--Shares in Taiwan were in consolidation mode on Tuesday, edging higher after trading in a narrow range, dealers said.

The weighted index on the Taiwan Stock Exchange closed up 10.73 points, or 0.11 percent, at 9,763.93, after moving between 9,721.36 and 9,775.49, on turnover of NT$88.98 billion (US$2.89 billion).

Old-economy sectors outperformed others, with paper, cable, cement and steel stocks gaining 3.85 percent, 1.88 percent, 0.78 percent and 0.61 percent, respectively.

The electronics and financial sectors remained relatively weak, rising just 0.05 percent and 0.16 percent, respectively.

Contract chip maker Taiwan Semiconductor Co. (TSMC, ???), the most heavily weighted stock on Taiwan's market, closed flat at NT$190, while Hon Hai Precision Industry Co. (??), an assembler of iPhones and iPads, closed 0.44 percent higher at NT$90.5.

Largan Precision Co. (???), a smartphone camera lens supplier to Apple Inc., rose 1.45 percent to finish at NT$4,560.

Foreign institutional investors bought a net NT$7.72 billion in local shares Tuesday.

Source: Focus Taiwan News Channel