Tai­wan shares drop to a 21-month low of 8213.42

The China Post - - TAIWAN BUSINESS - BY JOHN LIU

Tai­wan shares closed down 92.22 points at 8,213.42 on Mon­day, a record low in 21 months, af­ter news of a much lower GDP growth forecast broke last Fri­day.

The mar­ket closed down 1.11 per­cent on a turnover of NT$68.68 bil­lion (US$2.12 bil­lion), which was also the sec­ond low­est this year so far.

Nearly all ma­jor stock cat­e­gories tum­bled yesterday. Food con­cept, plas­tic and chem­i­cal con­cept stocks both dipped 0.5 per­cent. Ma­chin­ery and elec­tron­ics, pa­per, con­struc­tion, and fi­nance con­cept stocks fell 1.4 per­cent, 1.1 per­cent, 1.2 per­cent and 1 per­cent, re­spec­tively.

Ce­ment con­cept stocks man­aged to stay level, while textile stocks edged up 0.1 per­cent. Lar­gan Pre­ci­sion Co. ( ), the high­est priced stock on the mar­ket, rose 2.06 per­cent to close at NT$2,970. The sec­ond ex­pen­sive Her­mes Mi­cro­vi­sion Inc. ( ) dropped 7.1 per­cent to end at NT$1,240.

Huang Kuo- wei ( ) , an as­so­ciate man­ager at Mega In­ter­na­tional In­vest­ment Ser­vices Corp. ( ) , said the low­erthan- ex­pected GDP forecast of 1.56 per­cent pub­li­cized last Fri­day had a great im­pact on yesterday’s stock per­for­mance. But Huang pre­dicts the news’ ad­verse im­pact will peter out in the days ahead.

Huang said there is a good chance the mar­ket will re­bound and climb to 8,306 points in the near fu­ture.

Some busi­nesses are more pes­SIMistic, be­liev­ing that the slug­gish econ­omy will last un­til the first half of 2016.

In­sti­tu­tional In­vestors Reg­is­tered

NT$4.16 bil­lion Net Sell

Three pri­mar­ily pro­fes­sional in­sti­tu­tional in­vestors in Tai­wan to­gether logged a NT$4.16 bil­lion net sell. More specif­i­cally, for­eign in­vestors had a net sell of NT$2.11 bil­lion, se­cu­rity deal­ers NT$ 2.28 bil­lion, while in­vest­ment trust reg­is­tered a net buy of NT$227 mil­lion.

Among ma­jor elec­tron­ics stocks, Tai­wan Semi­con­duc­tor Man­u­fac­tur­ing Co. ( ) was down 1.5 per­cent to fin­ish at NT$124; Me­di­aTek Inc. (

) closed 1.8 per­cent lower at NT$265.

Oth­ers like Ad­vanced Semi­con­duc­tor En­gi­neer­ing Inc. (

) ended 4.1 per­cent lower at NT$32.2; Inotera Mem­o­ries, Inc. ( ) plunged 5.7 per­cent lower at NT$18.7; Nanya Tech­nol­ogy Corp. ( ) slumped 8.7 per­cent at NT$37.65; and Hon Hai Pre­ci­sion In­dus­try Co. ( ) dipped 0.5 per­cent at NT$88.2.

Among fi­nan­cial stocks, Cathay Fi­nan­cial Hold­ing Co. ( ) dropped 0.8 per­cent to close at NT$46.6; Fubon Fi­nan­cial Hold­ing Co. ( ) de­clined 0.5 per­cent to fin­ish at NT$53.2; CTBC Fi­nan­cial Hold­ing Co. ( ) lost 1.7 per­cent to end at NT$19.5; Mega Fi­nan­cial Hold­ing Co. (

) closed 0.2 per­cent lower at NT$24; and Yuanta Fi­nan­cial Hold­ings ( ) de­creased 3.8 per­cent at NT$13.8.

CNA

In­vestors look at a screen show­ing stock per­for­mance in Taipei, yesterday. The weighted in­dex on the Tai­wan Stock Ex­change closed down 92.22 points, or 1.11 per­cent, at 8,213.42, on turnover of NT$68.68 bil­lion (US$2.13 bil­lion).

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.