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Local shares finish off flat as sentiment turns cautious

TAIPEI--Shares in Taiwan closed little changed Tuesday as the bourse fell into consolidation mode after rallying a day earlier, dealers said.

While the bellwether electronics sector was in the doldrums, select stocks in the old economy and financial sectors posted gains on rotational buying to lend some support to the index, they said.

The weighted index ended down 1.23 points, or 0.01 percent, at 8,443.39, after moving between 8,421.59 and 8,459.49, on turnover of NT$71.94 billion (US$2.43 billion).

In the high-tech sector, select large-cap stocks faced downward pressure as investors locked in their gains, with Taiwan Semiconductor Manufacturing Co. (TSMC,台積電), the most heavily weighted stock in the local market, falling 0.95 percent to close at NT$104.00.

Among other electronics stocks, Advanced Semiconductor Engineering Inc. (ASE,日月光) lost 2.18 percent to end at NT$29.10 after Kaohsiung's Environmental Protection Bureau suspended operations at one of its plants.

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