Taiwan Business Quick Take
Tech hit by lower sentiment
The TAIEX yesterday moved lower as tech heavyweights, especially in the semiconductor sector, came under downward pressure, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (台積電). Concerns over the market’s future have increased as market sentiment has been hurt as foreign institutional investors hold a large number of short-term futures contracts, indicating more selling on the spot market, dealers said. The TAIEX ended down 97.34 points, or 0.6 percent, at 16,215.82. Turnover totaled NT$311.224 billion (US$11 billion). Foreign institutional investors sold a net NT$12.93 billion of shares on the main board, Taiwan Stock Exchange data showed.