Wed, Jan 21, 2009 - Page 11 News List

TAIEX mirrors Asia in closing lower


Taiwan share prices closed 2.84 percent lower yesterday, tracking losses in regional markets on concerns over corporate earnings, dealers said.

The weighted index fell 124.15 points to 4,242.61 on turnover of NT45.72 billion (US$1.39 billion), its lowest close since ending at 4,225.07 on Dec. 5. Losers led gainers by 1,350 to 214 with 153 stocks unchanged.

“There are enormous worries about earnings deterioration ... heavy losses across the region today show investors would rather play it safe for now,” said Tom Hsu, a trader at ABN Amro Asia in Taipei.

Nanya Technology Corp (南亞科技), the nation’s second-largest memory-chip producer, fell 4.1 percent to NT$5.62 while Inotera Memories Inc (華亞科技) closed unchanged at NT$9.90.

The companies were due to issue their fourth-quarter results later yesterday, as analysts expected Nanya to post a net loss for the October-December period.

Hon Hai Precision Industry Co (鴻海精密) fell 2.3 percent to NT$60.5, after its subsidiary Foxconn International Holdings Ltd (富士康控股) said on Monday its net profit fell significantly last year.

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