Tue, Sep 30, 2003 - Page 11 News List

TAIEX continues losing streak, led by Quanta


The TAIEX fell for a third day, its longest losing streak in four weeks yesterday. Consumer goods exporters such as Quanta Computer Inc (廣達電腦) and Hon Hai Precision Industry Co (鴻海精密) fell after a US report showed consumer confidence in the nation's second-largest export market dropped.

Cathay Real Estate Development Co (國泰建社) and Hung Sheng Construction Co (宏盛建設) gained after a Chinese-language newspaper said the nation this week will start allowing real-estate companies to turn properties into securities. As a group, property and construction companies gained 3 percent yesterday.

The TAEIX shed 6.61 points, or 0.1 percent, to 5,643.5. It fell as much as 0.4 percent and rose as much as 0.3 percent during the day. Decliners and gainers were even. The futures contract for October delivery declined 0.4 percent to 5,665.

About 2.4 billion shares changed hands, or 54 percent of the daily average in the past three months. Shares worth NT$55.1 billion (US$1.6 billion) were traded, the lowest in four months.

Quanta Computer, the world's largest notebook computer maker by volume, fell NT$1, or 1.2 percent, to NT$82. Hon Hai Precision, the nation's largest electronics maker, dropped NT$0.50, or 0.3 percent, to NT$146. Acer Inc fell NT$0.50, or 1.1 percent, to NT$46.

The University of Michigan's final confidence figure for this month fell to 87.7, from 89.3 last month and from a preliminary reading of 88.2 reported Sept. 12.

Cathay Real Estate, the country's largest developer, rose NT$0.45, or 3.3 percent, to NT$13.95. Hung Sheng Construction gained NT$0.80, or 6.9 percent, to NT$12.35.

Formosa Plastics Corp (台塑) fell NT$0.60, or 1.2 percent, to NT$48.60.

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