Taiwan market slips modestly as investors await US market cues
Taiwan's benchmark index fell around half a percent on Tuesday, with lower trading volume as investors stayed cautious while US markets were closed.
On Tuesday, the Taiwan Stock Exchange's Taiex index slipped 0.47 percent to finish at 47,105.78 after moving within a range of 47,023.73 to 47,578.24. Trading activity declined to NT$876.66 billion, down from the previous day's NT$997.94 billion, indicating many participants preferred to wait for direction from US markets, which were closed for a holiday. Analyst Adam Lin noted that TSMC stayed resilient with a modest rise, cushioning the market's drop, while other chip makers like MediaTek and ASE fell on profit-taking.
Memory chip producers Nanya and Winbond posted gains amid global shortages. Outside the semiconductor sector, Hon Hai, Quanta, Delta Electronics and Yageo all declined, whereas food and oil companies such as Uni-President and Great Wall posted modest gains. Foreign institutional investors bought a net NT$13.27 billion of shares on the main board despite the overall dip.
