Stocks fell for the first day in five yesterday, led by Taiwan Semi-conductor Manufacturing Co (TSMC, 台積電), the world's largest made-to-order chipmaker, as some investors bet chipmakers' gains have outpaced their profit outlook.
"Semiconductor stocks had a good rally already, so many investors are betting now is time for them to take a break," said Celine Chiang (
The TAIEX fell 27.55 points, or 0.6 percent, to 4,804.65. About six stocks gained for every five that fell.
Turnover was NT$109.86 billion (US$3.16 billion).
TSMC, which gained 21 percent in the past month, fell NT$1, or 1.7 percent, to NT$56.50, while its competitor United Microelectronics Corp (
Some exporters such as Compal Electronics Inc (仁寶電腦) and Hon Hai Precision Industry Co (鴻海精密) gained after a newsletter survey showed that forecasts of US economic growth rose for the first time in a year.
"The US economy is clearly on a rebound, bolstering demand for Taiwanese manufacturers,'' Chiang said ``Taiwan's exporters will be picking up pace in the second half."
Compal rose NT$0.70, or 1.6 percent, to NT$44.
Via Technologies Inc (威盛電子) fell NT$2.40, or 5.4 percent, to NT$41.80. Via gained 10 percent in the four weeks to yesterday.
Acer Inc (宏電), the nation's biggest maker of desktop computers dropped NT$0.80, or 1.3 percent, to NT$36.90 after chair-man Stan Shih (施振榮) said he will retire by the end of next year.
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