Taiwan shares end up but gains capped

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(The Focus Taiwan)

Shares in Taiwan closed higher Thursday in reflection of a rally enjoyed by U.S. markets overnight, but the gains were capped as some investors shifted to the sell side to pocket their profits, dealers said.

Contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC), the most heavily weighted stock in the local market, came off its earlier highs on profit taking to end lower due to its high valuation, which limited the upturn on the broader market, the dealers said.

The Taiex, the weighted index on the Taiwan Stock Exchange (TWSE), ended up 72.02 points, or 0.44 percent, at 16,287.84, after moving between 16,264.61 and 16,410.02. Turnover totaled NT$325.61 billion (US$11.48 billion).

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