TAIPEI, March 11 (Reuters) - Taiwan stocks fell 0.38 percent
on Thursday, hurt by losses in tech shares including Compal as investors retreated to the sidelines to await signs
of stronger tech demand in the coming months.
Worries also lingered over shortages of some key electronics parts such as memory chips that could hurt sales and profit margins of personal computer makers, analysts said.
'Cautious investors left the market because good February numbers have been priced in,' said Tu Jin-lung, chairman of Grand Cathay Investment Services, referring to corporate monthly sales.
Laptop PC maker Compal and LCD maker AU Optronics , the market's two most active stocks by volume, fell 2.45 percent and 0.86 percent, respectively. The broader electronics sub-index lost 0.16 percent.
Top contract chip maker TSMC finished flat, despite reporting stronger February sales.
The main TAIEX share index closed down 29.42 points at 7,749.66 after reaching its highest level in 1-½ months. Turnover was T$90.1 billion ($2.8 billion), up slightly from T$85 billion the previous day.
'There might be little room for the big board to rise given such soft volume, but some growth stocks did quite well today,' said Jih Sun Investment Consulting analyst Kevin Chung.
LCD TV maker Amtran Technology jumped 4.65 percent and chip designer Mediatek rose 1.5 percent.
Both Tu and Chung said the market was likely to hover at the quarterly moving average near 7,800 points in the short term.
Foreign investors were net sellers in February, but had bought T$51.8 billion worth of Taiwan shares this month as of Wednesday. Final figures for Thursday were due out after 0700 GMT.
Foreign buying continued unabated in the region with data showing emerging market equity funds posted a third straight week of inflows.
----------------------TAIEX IN PERSPECTIVE--------------------
Move on day -0.38 percent
Close on day 7,749.66
2010 intraday high 8,395.39
2010 intraday low 7,080.90
All time high 12,682.41 12 FEB 1990
(US$1=T$31.8)
((Reporting by Baker Li; Editing by Jonathan Standing and Jonathan Hopfner))
((baker.li@thomsonreuters.com; +886 2 2508-0815; Reuters messaging: baker.li.reuters.com@reuters.net)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Taiwan dollar LME price overview TAIWAN MARKET: Taiwan equity mkt TAIEX Other indices TAISDAQ TAIMEX Taiwan index futures MSCI Taiwan index SIMEX Taiwan index futures FTSE TW50 index Keywords: MARKETS TAIWAN STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Worries also lingered over shortages of some key electronics parts such as memory chips that could hurt sales and profit margins of personal computer makers, analysts said.
'Cautious investors left the market because good February numbers have been priced in,' said Tu Jin-lung, chairman of Grand Cathay Investment Services, referring to corporate monthly sales.
Laptop PC maker Compal and LCD maker AU Optronics , the market's two most active stocks by volume, fell 2.45 percent and 0.86 percent, respectively. The broader electronics sub-index lost 0.16 percent.
Top contract chip maker TSMC finished flat, despite reporting stronger February sales.
The main TAIEX share index closed down 29.42 points at 7,749.66 after reaching its highest level in 1-½ months. Turnover was T$90.1 billion ($2.8 billion), up slightly from T$85 billion the previous day.
'There might be little room for the big board to rise given such soft volume, but some growth stocks did quite well today,' said Jih Sun Investment Consulting analyst Kevin Chung.
LCD TV maker Amtran Technology jumped 4.65 percent and chip designer Mediatek rose 1.5 percent.
Both Tu and Chung said the market was likely to hover at the quarterly moving average near 7,800 points in the short term.
Foreign investors were net sellers in February, but had bought T$51.8 billion worth of Taiwan shares this month as of Wednesday. Final figures for Thursday were due out after 0700 GMT.
Foreign buying continued unabated in the region with data showing emerging market equity funds posted a third straight week of inflows.
----------------------TAIEX IN PERSPECTIVE--------------------
Move on day -0.38 percent
Close on day 7,749.66
2010 intraday high 8,395.39
2010 intraday low 7,080.90
All time high 12,682.41 12 FEB 1990
(US$1=T$31.8)
((Reporting by Baker Li; Editing by Jonathan Standing and Jonathan Hopfner))
((baker.li@thomsonreuters.com; +886 2 2508-0815; Reuters messaging: baker.li.reuters.com@reuters.net)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Taiwan dollar LME price overview TAIWAN MARKET: Taiwan equity mkt TAIEX Other indices TAISDAQ TAIMEX Taiwan index futures MSCI Taiwan index SIMEX Taiwan index futures FTSE TW50 index Keywords: MARKETS TAIWAN STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
