TAIPEI: Taiwan shares came under heavy pressure in the Thursday morning trading session with the bellwether electronics sector in focus amid lingering concerns over the slow season effects in the second quarter, dealers said.
As of 11:41 a.m., the weighted index on the Taiwan Stock Exchange had fallen 1.38 percent to 9,424.69 points on turnover of NT$75.91 billion (US$2.46 billion). The electronics sub-index was down 1.87percent at 368.08 points.
“It is possible that foreign institutional investors stayed on the sell side this morning after they boosted the number of net short position contracts in the futures market by about 10,000 yesterday,” Ta Ching Securities analyst Andy Hsu said.
“They simply unloaded large-cap stocks in the high-tech sector as the market has feared that electronics firms will report poor sales in a slow season of the current quarter,” Hsu said.
http://focustaiwan.tw/news/aeco/201506040006.aspx
