TAIPEI: Taiwan stocks ended below the 9,900-point mark Wednesday as the bellwether electronics sector came under pressure on worse-than-expected first quarter results and disappointing outlooks for the second quarter, dealers said.
The financial sector also suffered a sell-off as investors rushed to lock in gains they built in recent sessions, further dragging down the index at the close, they said.
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Market sentiment turned cautious as many investors preferred to stay on the sidelines before the U.S. Federal Reserve was to wrap up a two-day policymaking meeting later in the day, they added.
The weighted index on the Taiwan Stock Exchange closed down 103.00 points, or 1.03 percent, at 9,853.83, after moving between 9,842.50 and 9.978.87, on turnover of NT$113.76 billion (US$3.73 billion).
The market opened down 0.29 percent as metal casing maker Catcher Technology Co. (可成) faced a sell-off on disappointing first quarter results and smartphone vendor HTC Corp. (宏達電) came under pressure on disappointing guidance for the second quarter, dealers said.
