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Taiwan shares sees gains for third session in a row

TAIPEI -- Shares in Taiwan ended little changed Monday on reduced turnover as the market extended gains for the third consecutive trading session.

The Taiwan Stock Exchange's main index closed up 4.6 points, or 0.05 percent, at 8,391.95, on turnover of NT$79.17 billion (US$2.61 billion).

The market opened high at 8,416.42 points and hit a high of 8,447.02 as investors reacted positively to strong showings in international markets, but profit-taking toward the end of the session pushed the market lower.

The main index closed at the day's low of 8,391.95 points but at one point rose above the quarter's moving average of 8,407.

The construction sector was the best performer among the eight major stock categories, surging 2.1 percent. Four other categories also gained ground, with paper and pulp shares gaining 0.6 percent and cement issues surging 0.5 percent, while plastics and chemicals rose 0.4 percent and foodstuff issues advanced 0.1 percent.

The other three major stock categories lost ground, with textile, banking and financial, and machinery and electronics issues all declining 0.1 percent.

Losers outnumbered gainers 2,695 to 2,575, with 588 stocks remaining unchanged.

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