The TAIEX closed down 151.77 points, or 1.2 percent, at 12,513.03, on turnover of NT$231.43 billion (US$7.84 billion). Foreign institutional investors sold a net NT$30.4 billion worth of shares on the main board, Taiwan Stock Exchange data showed. “The infection sources of the three cases remain unknown, which raises fears over the domestic situation, although the nation has not officially reported any domestic cases” since April 12, Huang said. “When investors sold TSMC, they shifted their buying to its smaller rival United Microelectronics Corp (UMC, 聯電) today, giving some support to the broader market,” Huang said. However, concerns over the spread of the virus boosted the biotech sector, where shares in Chunghwa Chemical Synthesis & Biotech Co (中化合成生技) rose 5.2 percent and Adimmune Corp (國光生技) soared 10 percent.

Source: Taipei Times August 03, 2020 15:56 UTC