Taiwan share prices close with marginal gains in slow trading
February 18, 2014, 12:19 am TWN
TAIPEI--Taiwan share prices ended almost flat Monday but remained above the 8,500-point mark amid relatively slow trading, despite strong performance on the U.S. stock market.
The weighted index on the Taiwan Stock Exchange closed up 5.87 points, or 0.06 percent, at 8,519.55, after fluctuating between 8,558.5 and 8,512.6, on turnover of NT$72.33 billion (US$2.39 billion).
The market opened up 0.28 percent in the wake of Wall Street gains. The rise, however, was capped toward the end of the session.
David Chu, chairman of Hua Nan Securities Co., said the uptrend of the U.S. stock market is likely to push Taiwan shares higher.
In light of the strong performance on Wall Street, foreign institutional investors trended toward the buy side after selling NT$90 billion-worth of Taiwan shares in previous sessions, Chu said.
However, he said Taiwan share prices have made considerable gains since rebounding from a low of 8,230 points and might come under pressure of a pullback.