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Taiwan shares rise above 9,800, led by optoelectronics sector

2019/01/18 17:56:56

Taipei, Jan. 18 (CNA) Shares in Taiwan closed above the 9,800-point mark Friday, as gains in the optoelectronic, cement and oil, gas and electricity sectors propelled shares higher.

The Taiwan Stock Exchange's main index, the Taiex, closed up 46.91 points, or 0.48 percent, at 9,836.06 on turnover of NT$95.83 billion (US$3.11 billion).

Among the biggest gainers on Friday, Largan Precision Co., a supplier of smartphone camera lenses to Apple Inc., gained 7 percent to close at NT$3,785.00, while smartphone camera lens maker Genius Electronic Optical Co. rose 9.85 percent to close at NT$217.50.

The two lens makers led an overall 3.48 percent gain in optoelectronics shares.

Electronics heavyweights were mixed. Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, closed 1 percent lower at NT$218.50, while iPhone assembler Hon Hai Precision Industry Co. rose 0.57 percent to close at NT$70.80.

At an investor conference held by TSMC on Thursday, the company said its consolidated sales for the first quarter could fall 22 percent from a quarter earlier because of a global economic slowdown and inventory adjustments in the industry, hurting the stock Friday.

By sector, the bellwether electronics sector closed 0.45 percent higher, financial shares closed up 0.26 percent, and cement stocks and oil, gas and electricity shares finished 1.29 percent higher.

Traders expect investors to stay on the sell side during the remaining trading sessions ahead of the upcoming Chinese Lunar New Year holiday, which should push up trading volume.

(By Jiang Ming-yan and Ko Lin)