Taiwan stocks fell, led by VIA Technologies Inc (
VIA Technologies fell NT$4, or 4.5 percent, to NT$85.
The TAIEX declined 57.90, or 1.6 percent, to 3567.63, after falling as much as 2.2 percent. Eight stocks fell for every two that rose. The total value of trade today was NT$38.9 billion (US$1.1 billion), 44 percent less than this year's average of NT$69.3 billion.
Stocks also dropped on concerns earnings at electronics firms will slide after the government said export orders and factory production fell in August for a sixth month and on concern the US, the island's biggest export market, will slide into recession.
"A lot of people are very cautious on the economy and the market and they are trying to cash out of the market," said Steven Hsieh, who manages about NT$2.5 billion at Dresdner Asset Management Taiwan Ltd, who is selling smaller market value electronic stocks.
China Airlines Co (
EVA Air's shares have dropped 31 percent since Sept. 11.
Chipmakers declined after the widely watched Philadelphia Semiconductor Index, a price weighted index of 16 companies that are involved in the design and manufacture of chips, plunged 7.9 percent Wednesday.
Taiwan's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), fell NT$2 to NT$46.50. United Microelectronics Corp (UMC, 聯電), the second-biggest made-to-order chipmaker, fell NT1.20, or 4.4 percent, to NT$26.10.
Memory chipmakers dropped on concern about slowing demand as the spot price for their main product remains below the cost of production. The spot price for the 64Mb DRAM chip is at US$0.70, according to DRAM Exchange, a market place for memory chips.
Winbond Electronics Corp (
Evergreen Marine Corp (長榮海運), the island's biggest shipping company, fell NT$0.70, or 6.5 percent, to NT$10.
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