Taiwan shares edge lower

Taipei--Shares in Taiwan edged lower Wednesday but remained above 9,800 points amid geopolitical uncertainties caused by rising tension between North Korea and the United States after a U.S. Navy strike group was deployed towards the Korean peninsula in a show of military force, dealers said.

The Taiwan Stock Exchange's main index, the TAIEX, closed down 14.74 points, or 0.15 percent, at 9,817.68, after moving between 9,837.19 and 9,789.59 on turnover of NT$88.63 billion (US$2.90 billion).

Shares opened down 0.86 points at 9,831.56 and hit a low of 9,789.59, but recovered most of their early losses later in the session on the back of electronics stocks.

Flat-panel suppliers AU Optronics Corp. (??) and Innolux Corp. (??) rose 3.64 percent and 6.34 percent to end at NT$12.8 and NT$14.25, respectively.

The performance of optoelectronic stocks was also relatively strong, with Genius Electronic Optical (???) gaining 5.64 percent to end at NT$313.00.

Foreign institutional investors bought a net NT$2.886 billion-worth of local shares.

The market's focus on Thursday is expected to be on contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, ???) and Largan Precision Co. (???), a supplier of smartphone camera lenses to Apple Inc., as the two companies are set to hold investor conferences that day, according to the dealers.

Source: Focus Taiwan News Channel