Wed, Jan 22, 2003 - Page 11 News List

TAIEX slips slightly on China Airlines decline of NT$0.5


Stocks fell for the third day in four. China Airlines Co (華航) declined after President Chen Shui-bian (陳水扁) said direct transport links with China aren't an economic cure-all for the nation.

The TAIEX fell 5.16, or 0.1 percent, to close at 4,945.87. Nearly one stock rose for every one that declined. Total trading was NT$124 billion.

China Airlines fell NT$0.5, or 3.1 percent, to NT$15.7.

Chen cited lackluster demand for charter flights between Taiwan and Shanghai during the Lunar New Year holiday. Travel agents have sold about half of the 1,600 seats on 16 flights operated by six Taiwanese carriers.

Quanta Display Inc (廣輝), a maker of flat-panel displays, rose NT$0.8, or 5.8 percent, to NT$14.70 on newspaper reports that Quanta may consider a merger with larger rival AU Optronics Corp (友達). Quanta Display denied the report.

"Makers like AU Optronics have good chances to turn profitable this quarter," said Phil Chen, a securities manager.

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