TAIEX retreats on increasing US-China tensionsStaff writer, with CNAThe TAIEX yesterday closed lower after posting early gains because of mounting diplomatic tensions between the US and China, dealers said. The TAIEX closed down 109 points, or 0.88 percent, at 12,304.04 on turnover of NT$264.547 billion (US$8.95 billion). A man looks at monitors showing share prices at a brokerage in Taipei yesterday. However, the upturn was ended by mounting US-China tensions, which pushed the index below the nearest technical support level ahead of the five-day moving average of 12,352. In Taipei, many investors seized on the political unease as an excuse to lock in gains after the TAIEX closed at a 30-year high earlier this week.

Source: Taipei Times July 24, 2020 15:56 UTC