TAIPEI: Taiwan shares finish 0.5% higher at 9391.14, paring some earlier gains as investors grow cautious after the Taiex brushes its two-and-a-half-week high. Reversing earlier gains include Hon Hai (2317.TW), which ends down 0.1% at NT$97.10, and MediaTek (2454.TW), which closes down 1.8% at NT$426.00. First Capital says worries about a Greek debt deal are subsiding and the Federal Reserve’s interest-rate outlook appears to be paced, which have led foreign fund managers to reduce their short positions on the Taiex’s futures. That will support the index in the near term. But the brokerage adds that the upside looks limited, probably meeting resistance at 9500, as corporate earnings appear sluggish in the current quarter amid anemic global growth.
