TAIPEI (XFN-ASIA) - Share prices turned lower at mid-morning as capital
outflow fears dragged down large-cap financial and technology stocks, dealers
said.
At 10.30 am, the weighted index was down 44.44 points or 0.50 pct at
8,822.18, off a high of 8,896.31 and a low of 8,803.31.
Turnover was 58.44 bln twd.
The Taiwan dollar traded in the 30.908 to 30.790 range against the US
dollar, compared with yesterday's close of 30.824 .
"Investors were unnerved by worries over capital outflows, with bellwether
large-cap stocks taking the hit," said an analyst with a domestic investment
advisory firm.
"The local currency weakness ignited fears of more capital exiting the
island amid US dollar strength against some other Asian currencies."
Inflation concerns tied to high energy prices added to selling pressure, the
analyst said.
The financial subindex was down 1.39 pct, cement lost 1.13 pct and
electronics fell 0.47 pct.
Paper was up 1.28 pct and food rose 1.13 pct.
Decliners outnumbered advancers 1,380 to 825, with 341 stocks unchanged.
Thirteen stocks were limit-up, while 12 were limit-down.
ProMOS Technologies lost 0.20 twd or 2.37 pct to 8.24 after announcing that
Korea's Hynix Semiconductor will take a stake in the company as part of an
enhanced strategic alliance.
United Microelectronics lost 0.10 twd to 18.50 and Acer dropped 0.60 twd to
66.90 after reporting April sales.
Among others in focus, AU Optronics fell 0.60 twd to 59.30, Taiwan
Semiconductor Manufacturing Co dropped 0.80 twd to 66.70, Taishin Financial
Holding shed 0.45 twd or 2.85 pct to 15.35, and Hua Nan Financial gave up 0.65
twd to 29.50.
adela.lin@afxasia.com
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xfnal/xfjamesa
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