Shares closed slightly down yesterday on profit-taking in the financial sector.
The TAIEX finished 10.47 points lower, or 0.2 percent, at 5,906.69 in dealings valued at NT$60 billion (US$1.84 billion).
Decliners well outnumbered advancers 450 to 166, while 161 issues ended the day unchanged.
Stocks were strong in the morning session but posted losses after profit-taking, said Alex Kao, a vice-president at Masterlink Securities Corp (
Mega Financial Holding (
Steel and older industry shares also fell, led by Chung Hung Steel Corp (
A number of smaller technology stocks fell as short-term investors took profits, dealers said.
Mosel Vitelic Inc (
Makers of thin-film-transistor liquid-crystal-display screens also closed lower.
Chi Mei Optoelectronics Corp (
A Deutsche Bank analyst said in a report to clients yesterday that the investment firm maintains "our cautious outlook on TFT-LCD sector" since "industry fundamentals have not bottomed out."
He said he expects further downside for Chi Mei and Taiwan's largest TFT-LCD maker, AU Optronics Corp (