TAIPEI, Taiwan -- Shares in Taiwan closed slightly lower Tuesday as the bellwether electronics sector lost ground, led by chip maker Taiwan Semiconductor Manufacturing Co. (TSMC,台積電), the most heavily weighted stock in Taiwan's stock market, dealers said. After the index fell below 10,000 points, however, some bargain hunting emerged, especially in the non-high-tech sector, to vault the index back above that level by the end of the session, dealers added. "After the weighted index breached 10,000 points, many investors turned cautious fearing a possible major correction," Mega International Investment Services Corp. analyst Alex Huang said. According to MSCI, Taiwan's weighting in the MSCI Emerging Markets Index was lowered to 12.04 percent from 12.09 percent after remaining unchanged following the previous review. "Fortunately, buying rotated to old economy and financial stocks and that's why the weighted index came off an early low and returned to 10,000 points," Huang said.

Source: The China Post May 16, 2017 10:07 UTC