Fri, Jan 28, 2005 - Page 11 News List

TAIEX ends slightly higher as caution puts cap on gains

AFP , TAIPEI

Share prices closed 0.13 percent higher yesterday as cautious sentiment in the absence of major positive leads put a cap on gains stemming from Wall Street's overnight rally, dealers said.

They said investors turned hesitant in late trade, with makers of liquid-crystal display (LCD) panels in focus after reports that South Korea's Samsung Electronics and LG Philips LCD were going to raise their prices next month.

The TAIEX closed up 7.39 points at 5,842.76, off a high of 5,859.70 and a low of 5,820.72, on turnover of NT$48.01 billion (US$1.51 billion). Decliners led gainers 487 to 263, while 214 stocks were unchanged.

A total of 12 stocks closed limit-up and seven limit-down.

The petrochemical sector was up 0.44 percent, financials rose 0.38 percent and electronics 0.12 percent, while the transport sector lost 1.21 percent and food shed 0.88 percent.

"There were no fresh factors significant enough to convince investors to chase prices much higher. Investors adopted a cautious approach," said Johnny Lee, a manager at President Securities (統一證券).

Among TFT-LCD panel makers, AU Optronics Corp (友達光電) closed up NT$0.20 at NT$44.90, Chi Mei Optoelectronics Corp (奇美電子) down NT$0.20 at NT$42.30 and Chunghwa Picture Tubes Ltd (中華映管) up NT$0.20 at NT$13.35.

Taiwan Semiconductor Manufacturing Co (台積電) rose NT$0.20 to NT$49.40 and United Microelectronic Corp (聯電) closed NT$0.30 higher at NT$19.50 on gains in their US peers.

China Steel Corp (中鋼) rose NT$0.10 to NT$35.40 after better-than-expected results.

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