The TAIEX yesterday rose 0.2 percent to close at 14,777.02 points after falling in the two previous sessions amid rising tensions across the Taiwan Strait.
However, turnover fell to NT$174.809 billion (US$5.83 billion), as most investors retreated to the sidelines amid US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan.
Foreign institutional investors sold a net NT$6.12 billion of shares on the main board, compared with NT$19.66 billion net sold on Tuesday, Taiwan Stock Exchange (TWSE) data showed.
“Political issues were the main reason why transaction shrank lately,” Hua Nan Securities Investment Management Co (華南投顧) chairman David Chu (儲祥生) said by telephone.
Stocks rallied in Taipei yesterday after authorities pledged to prop up domestic shares for the first time since the early days of the COVID-19 pandemic in 2020.
The TAIEX closed 2.68 percent higher at 14,324.68 points, the biggest jump in nearly four months. All but one of the 28 sub-gauges of the benchmark index rose. Chip giant Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which accounts for more than one-quarter of the index’s weighting, jumped 4.67 percent.
Turnover was NT$221.468 billion (US$7.42 billion) on the main board, compared with NT$199.669 billion on Tuesday, Taiwan Stock Exchange data showed.
The NT$500 billion National
Taiwanese shares declined yesterday, as investors locked in their gains from the previous session, amid renewed concerns about inflation due to a spike in international crude oil prices, dealers said.
The bellwether electronics sector saw apparent profit taking, with large-cap semiconductor stocks in focus, while financial heavyweights also came under pressure throughout the session, they said.
The TAIEX closed down 132.68 points, or 0.79 percent, at 16,675.09. Turnover totaled NT$252.853 billion (US$8.64 billion), with foreign institutional investors selling a net NT$10.09 billion of shares on the main board, after a net buy of NT$23.26 billion the previous session, Taiwan Stock Exchange data