TAIPEI: Taiwan stocks fell slightly on profit-taking in technology stocks, but trading was mixed as major airlines advanced on business opportunities following TransAsia Airways’ decision to shut operations earlier this week.
As of 0339 GMT, the main TAIEX index fell 0.1 percent to 9,168.97, after closing 0.5 percent higher in the previous session, its highest closing level in over two weeks and posting a sixth straight session of gains. The electronics subindex dipped 0.5 percent, after marking gains of more than 3 percent over the last six sessions. Big-capped tech stocks Hon Hai Precision and TSMC were down around 0.8 percent each.
The financials subindex gained 1.3 percent. The transportation subindex was 1.2 percent higher with China Airlines and EVA Airways,Taiwan’s two biggest airline firms, up more than 6 percent and 2 percent, respectively. China Airlines will support routes that were operated by
TransAsia Airways from the start of December, Taiwan’s cabinet said Wednesday, in the aftermath of its smaller rival’s move to shut operations on Tuesday. Shares in TransAsia were trading near their lower limit of 10 percent for a second straight session after it was suspended from trading on Tuesday pending its announcement. The Taiwan dollar softened T$0.065 to T$31.945 per U.S. dollar.
