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July 24, 2017

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Taiwan shares close almost flat, investors cautious after index high

TAIPEI, Taiwan -- The Central News Agency (CNA) reported that shares in Taiwan ended almost flat on Monday as investors remained cautious after the index reached a relatively high level near the 9,000-point mark.

The U.S. dollar fell against the New Taiwan dollar on Monday, shedding NT$0.041 to close at NT$30.171. Turnover totaled US$632 million during the trading session.

The greenback opened at the day's high of NT$30.210 and moved to a low of NT$30.093 before rebounding.

The weighted index on the Taiwan Stock Exchange closed up 3.11 points, or 0.03 percent, at 8,870.43 after moving between 8,844.45 and 8,911.08 on turnover of NT$91.99 billion (US$3.05 billion).

Despite a pullback in financial and old-economy stocks, the bellwether electronic sector appeared bullish, according to CNA.

Shares of HTC Corp. (宏達電) rose by the daily maximum of 7 percent to NT$169 on expectations that the smartphone maker will turn profitable in the second quarter thanks to robust sales of its new flagship model, the HTC One (M8).

The company was scheduled to hold an investor conference the following day to release its financial results for the second quarter.

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