Taiwan shares resilient despite fears over Omicron coronavirus variant

Source: taipeitimes.com taipeitimes.com

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The local stock market remained relatively resilient yesterday, despite concerns over the newly detected Omicron variant of SARS-CoV-2 in multiple countries, dealers said. The main board saw strong technical support at around the 60-day moving average of 17,165 points, with bargain hunters shifting to the buy side, picking up select large tech stocks to help the broader market recoup most of its earlier losses, they said. The TAIEX ended down 41.3 points, or 0.24 percent, at 17,328.09. The benchmark index tumbled 1.61 percent on Friday amid concern over the variant, which was first detected in southern Africa. Photo: CNA Turnover...