The TAIEX declined on concern that a slower-than-expected recovery in the US, the nation's biggest export market, may dampen demand for computer parts at Asustek Computer Inc (
United Microelectronics Corp (UMC,
The TAIEX fell 15.33, or 0.3 percent, to 5,680.78. For the week, the index rose 1.3 percent. The index has rallied 65 percent since hitting an 8-and-a-half-year low on Oct. 3, a gain that has more than reflected the impact of an economic recovery in the US, investors said.
"The economic situation should start to improve gradually, but I see no positive news to drive the market before the end of March," said Telan Chen, who manages NT$5 billion (US$142 million) in stocks at Cathay Securities Investment Trust Ltd (國泰投信).
Within the index, 301 stocks rose and 206 fell. The total value of trade was NT$113.4 billion (US$3.2 billion), almost a fifth higher than the six-month daily average of NT$96.4 billion.
Asustek, Taiwan's largest motherboard maker, fell NT$4, or 2.4 percent, to NT$166. Rival Elitegroup Computer Systems Co (
Quanta Computer Inc (
UMC surged NT$2.30, or 5.2 percent, to NT$47. The second-largest made-to-order chipmaker's second-quarter sales will exceed last year's fourth quarter as orders rise, a Chinese-language newspaper reported, citing the company.
"I'm very positive on the stock," said Lloyd Tsai (