Taiwan shares edge higher

Taipei, Shares in Taiwan edged higher Thursday, rebounding slightly from the previous session.

The Taiwan Stock Exchange's main index closed up 4.66 points, or 0.04 percent, at 10,727.23, after moving between 10,701.25 and 10,758.84. Turnover totaled NT$113.34 billion (US$3.68 billion).

The market opened up 4.1 points at 10,726.67 and moved in a narrow range as downward pressure on major Apple concept stocks mounted amid concern over sales of Apple's new iPhone models that were unveiled Wednesday.

All the major stock categories gained ground, apart from electronics and foodstuffs.

Gainers outnumbered losers 666 to 164, with 89 stocks remaining unchanged.

In the electronics sector, all the major suppliers in the Apple supply chain closed down, with contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock on the local market, shedding 2.11 percent to close at NT$255.00.

iPhone assembler Hon Hai Precision Industry Co., lost 1.29 percent to end at NT$76.00, while smartphone camera lens maker Largan Precision Co. dropped 2.38 percent to end at NT$4,110.00.

Among the falling passive component stocks, shares in Yageo Corp. shed 3.79 percent to close at NT$508.00 and Wahsin Technology Corp. lost 2.91 percent to end at NT$233.50.

Foreign institutional investors bought a net NT$1.40 billion-worth of shares on the main board Thursday, according to market data.

Source: Focus Taiwan News Channel