The TAIEX closed lower yesterday, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) came under pressure, falling more than 3 percent because investors pocketed gains built up in recent trading sessions, dealers said.
The financial sector outperformed the broader market, rising more than 0.5 percent on expectations that the US Federal Reserve would raise interest rates later this year, which would boost returns on financial institutions’ overseas investments, they said.
The TAIEX closed down 146.8 points, or 0.79 percent, at the day’s low of 18,378.64. Turnover totaled NT$261.862 billion (US$9.48 billion), with foreign institutional investors selling a net NT$6.86 billion of