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Taiwan shares bounce back, led by Apple concept stocks

2017/09/14 16:00:26

CNA file photo

Taipei, Sept. 14 (CNA) Shares in Taiwan closed higher Thursday on a rebound staged by companies tied to the Apple Inc. supply chain and by optoelectronics stocks.

The weighted index on the Taiwan Stock Exchange closed up 20.69 points, or 0.2 percent, at 10,553.57, after moving between 10,572.71 and 10,508.72 on turnover of NT$121.82 billion (US$4.04 billion).

The market opened up 1.11 points on a technical rebound from a fall seen a session earlier, with the weighted index moving in a narrow range throughout the session.

Among the rising Apple concept stocks, Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), which is believed to supply the A11 processor for production of the new iPhones, gained 0.23 percent to close at NT$218.50.

Smartphone camera lens supplier Largan Precision Co. (大立光) ended 0.27 percent higher at NT$5,650.00, while metal casing maker Catcher Technology Co. (可成) rose 0.15 percent to end at NT$325.50.

Bucking the rising trend, iPhone assembler Hon Hai Precision Industry Co. (鴻海) closed down 0.87 percent at NT$114.50.

Among the strong performers in the market were Genius Electronic Optical Co.(玉晶光), which rose 3.70 percent to end at NT$450.00.

Foreign institutional investors sold a net NT$2.56 billion-worth of local shares Thursday.

(By Wei-Shu and Evelyn Kao)
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