uring the previous session, dealers said. The weighted index closed down 20.02 points at 7,065.65, off a low of 6,998.13 and high of 7,098.68 on turnover of NT$88.52 billion (US$2.91 billion).
Advancers and decliners were even at 1,017, while 471 stocks were unchanged. A total of 28 stocks closed limit-up, while 31 were limit-down.
"Investors locked in profits after yesterday's rally, but the sentiment has started to change, becoming a bit bullish if compared with pessimism prevailing in the market over the past few weeks," said Michael Hsu from Taiwan Life Asset Management.
He forecasted that the market would rebound to the 8,000 points levels sometime between August and September.
However, before that happens, "pressure is likely to develop when the market rises to 7,200 points," he said.
