Tue, Nov 21, 2006 - Page 12 News List

Share prices close flat amid uncertainty

AFP , TAIPEI

Share prices closed flat after a session of rangebound trading yesterday as investors kept to the sidelines amid a growing sense of uncertainty over domestic politics, dealers said.

The weighted index closed up 1.94 points, or 0.03 percent, at 7,261.48, off a high of 7,270.28 and a low of 7,228.97, on turnover of NT$98.09 billion (US$2.98 billion).

"Investors found more reason to refrain from an aggressive stance now that Wall Street has also come under mounting pressure after previous solid gains," Jih Sun Securities Investment (日盛投顧) deputy manager Wilson Lien said.

He said the benchmark index was flat as most non-tech industrials lost momentum, while bellwether electronics were mixed.

He said as investors took to the sidelines and kept turnover limited, only select small-cap stocks showed some activity across the board on rotational play.

"Although foreign investors have mostly remained net buyers lately, an even bigger increase in their purchases is needed to attract more local followers and help the local bourse regain momentum," he added.

United Microelectronics Corp (聯電) was down NT$0.10 at NT$19.00, Nanya Technology Corp (南亞科技) gained NT$0.20 to NT$26.70, while Inotera Memories Inc (華亞科技) was down NT$0.75 at NT$39.25.

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