■ Chip sales balance LCD gains
Shares were flat yesterday, as selling of chip packaging stocks countered gains in LCD panel shares. The TAIEX fell 3.18 points, or 0.04 percent, to 6531.59, on turnover of NT$113.22 billion (US$3.42 billion). "LCD stocks were riding on hopes that strong demand for LCD televisions during the Christmas holidays will likely boost earnings growth for Taiwan's panel makers," said Jeffrey Cheng, an analyst with Yuanta Core Pacific Capital Man-agement (元大京華投顧). Panel maker AU Optronics Corp (友達光電) rose 2.2 percent to NT$48, while Chi Mei Optoelectronics Corp (奇美電子) advanced 4.8 percent to NT$44.
■ Hua Nan approves share sale
Hua Nan Financial Holdings Co (華南金控) said its board has approved a proposal to sell about 157 million shares in Taiwan Business Bank (台灣企銀) as the government attempts to reduce the number of lenders under its control. The shares represent a 3.7 percent stake in Taiwan Business Bank, Hua Nan said in a statement to the Taiwan Stock Exchange late on Monday.
■ NT dollar drops
The New Taiwan dollar fell for the first day in three on concern the central bank will sell the currency to maintain export competitiveness with Japanese rival goods, traders said. The yen's 8.5 percent decline against the NT dollar this year makes the nation's products less competitive abroad, they added. The local currency declined NT$0.034 to close at NT$33.132 against the US dollar yesterday.
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