AU Optronics, TSMC lead TAIEX fall after speech
Oct 12, 2004
TAIEX stocks fell yesterday, led by Taiwan Semiconductor Manu-facturing Co (TSMC) and AU Optronics Corp.
The TAIEX shed 12.88, or 0.2 percent, to close trading at 6,089.28. About six stocks gained for every five that declined. Index futures for October delivery fell 0.3 percent to 6,118.
China Airlines fell 3.2 percent to NT$18.20. EVA Airways Corp fell 2.9 percent to NT$14.85. China rejected President Chen Shui-bian's call for talks because he stopped short of acknowledging that Taiwan and China are one country, the government-owned China Daily reported yesterday.
"All the talk about Chen's upcoming major speech generated investor optimism that Taiwan will soon start full-fledged direct links with China," said Tom Fu, a fund manager at PCA Securities Investment Trust Co, which manages NT$124 billion in Taiwan.
"The reality is political issues will not be resolved simply by speeches," he said.
TSMC, the world's largest supplier of made-to-order computer chips, fell 1.2 percent to NT$42.80. AU Optronics, the nation's largest maker of flat-panel displays used in computers and televisions, fell 3.5 percent to NT$43.60.
Delta Electronics Inc fell 2.2 percent to NT$49.90 after Dell Inc, the world's largest seller of personal computers, recalled 4.4 million notebook computer power adapters made by Delta Electronics because they may catch fire.
Source: Taipei Times