The TAIEX fell for a fourth day in five yesterday, as investors locked in profit after the market's 1.3 percent rise in the previous session, said traders.
The TAIEX shed 15.04, or 0.3 percent, to 5,383.57. TAIEX futures for August delivery added 0.1 percent to 5,360. About six stocks advanced for every five that declined.
Investors generally lack confidence in the economic and earnings outlook for the second half of the year, and they are more inclined to take profit after any gains, said Stanley Chou, a manager at Barits Securities Corp (
Worries that many of the technology companies will be unable to sell off their products weighed on electronics shares, which lost 0.2 percent as a whole.
Sunplus Technology Co (
United Microelectronics Corp (UMC,
Taiwan Cellular Corp (台灣大哥大), the nation's second-largest provider of mobile-phone services, advanced 1 percent to NT$31.40. It said second-quarter profit rose 20 percent to NT$3.6 billion from NT$3 billion a year ago.