LCD makers and shippers weigh heavy on the TAIEX

Shares lower yesterday, led by declines in liquid-crystal-display makers and container shippers.

The TAIEX fell 55.60 points, or 0.9 percent, to end at 5,925.88. Decliners well outnumbered advancers 679 to 194, while 147 issues ended the day unchanged.

"LCD makers had no reason to fall this much except for rumors they won't be raising prices of 19-inch flat panels in June," said Richard Tsai, a senior vice president at Grand Cathay Securities (大華證券).

AU Optronics Corp (友達光電), a key flat-panel maker, fell 5.4 percent to NT$50.80 despite a 3.5 percent jump in its American Depositary Receipts last Friday.

Chi Mei Optoelectronics Corp (奇美電子) was down 4.9 percent at NT$48.80.

The transport subindex plunged 4.5 percent, with Evergreen Marine Corp (長榮海運), the nation's largest container shipper, down by the daily maximum of 7 percent at NT$28.75.

Smaller Yang Ming Marine Corp (陽明海運) lost 6.9 percent to NT$29.10. A Chinese-language newspaper report cited foreign shippers as saying freight rates this year have slipped from the previous year, as supply of new ships outstripped demand.