■ TAIEX drops 0.46%
Share prices closed 0.46 percent lower yesterday, ending a four-day winning streak as Wall Street's downturn overnight outweighed a positive lead from large-cap IT firms, dealers said. They said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and AU Optronics Corp (友達光電) did better than the broader market on the back of better-than-expected first quarter results and encouraging corporate guidance. The TAIEX closed down 26.98 points at 5,778.27, on turnover of NT$46.68 billion (US$1.42 billion). Decliners led gainers 678 to 186, with 143 stocks unchanged. TSMC closed up NT$0.60 at NT$52.20 while AU Optronics put on NT$0.50 to NT$49.50.
■ Taiwan Tobacco IPO planned
The government aims to sell a 30 percent stake in Taiwan Tobacco & Liquor Corp (台灣菸酒) to the public this year. The plans for the initial public offering still needs approval from the Cabinet, said Chou Hsien-yang (周賢洋), a director at the Ministry of Finance. The government won't sell any shares to major international tobacco companies, Imperial Tobacco Group Plc chief executive Gareth Davis said on Tuesday. The UK-based cigarette maker had previously expressed an interested in Taiwan Tobacco.
■ NT dollar dips
The New Taiwan dollar traded lower against its US counterpart yesterday, declining NT$0.028 to finish at NT$31.441 on the Taipei foreign exchange market. Turnover was US$673 million, down from US$963 million on Tuesday.
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