Shares in Taiwan closed lower Wednesday but remained above the 9,000-point level as many investors stayed on the sidelines, keeping a close eye on how Washington will report its nonfarm payroll data for August later this week for a clearer picture about the global economy.
The weighted index on the Taiwan Stock Exchange ended down 41.71 points, or 0.46 percent, at 9,068.85 after moving between 9,130.76 and 9,044.50, on turnover of NT$85.501 billion (US$2.68 billion).
All the major share categories lost ground, with stocks in the semiconductor, information technology and shipping sectors outperforming the market.
Large-cap electronic shares were mostly weak, with Hon Hai Precision Industry Co. (??), an assembler of iPhones and iPads for Apple, losing 1.12 percent to close at NT$88.00.
Smartphone camera lens supplier Largan Precision Co. (???), the most expensive stock on Taiwan's market, dropped 0.7 percent to end at NT$3,560.00.
Bucking the downward trend, contract chip maker Taiwan Semiconductor Manufacturing Co. (???), the most heavily weighted stock in the local market, rose 0.86 percent to end at NT$176.00, while smartphone brand HTC Corp. (???) gained 0.7 percent to end at NT$85.00.
Electroacoustics maker Merry Electronics Co. (??) rose 3.93 percent to end at NT$119, while LED lighting manufacturer Epileds Technologies Inc. (??) gained 9.96 percent to end at NT$25.40.
Turnover remained low amid lingering cautious sentiment as many investors remained wary of a possible interest rate hike by the U.S. Federal Reserve later in the year. Their concerns were heightened after Fed Chairwoman Janet Yellen said last week that the U.S. nonfarm payroll data for August, set to be released Friday, could affect the Fed's decision on an interest rate hike, according to Mega Securities Co., Ltd. analyst Huang Kuo-wei (???).
The local main board remained resilient and is expected to fluctuate slightly before the release of the U.S. nonfarm payroll data on Friday, Huang added.
Foreign institutional investors sold a net NT$3.056 billion worth of shares on the market Wednesday.
Source: Focus Taiwan