The TAIEX fell to its lowest level this year as Lite-On Technology Corp (
The TAIEX fell 93.91, or 1.7 percent, to 5,405.42 as about three stocks fell for every one that rose. The total volume of trade was NT$61 billion (US$1.8 billion), almost half the six- month daily average of NT$117 billion.
Lite-On Technology shares declined NT$4, or 6.7 percent, to NT$56 on concern its merger with Lite-On Electronics Inc (光寶電子), GVC Corp (致福), and Silitek Corp (旭麗) will suffer from a lack of product compatibility and blur the company's finances. GVC fell NT$1.6, or 6.7 percent, to NT$22.2, while Silitek fell 6.4 percent to NT$51.
"Their products are completely different, which will limit their cost savings, and their finances will become even less clear," said Eric Yeh (
Benq Corp (
Benq forecasts handset shipments will fall as much as a fifth in June from May.
Hsin Kuang Steel Co (新光鋼鐵) rose NT$0.9, or 2.7 percent, to NT$33.7 after analysts forecast its second-quarter profit will improve from the first quarter as prices and orders increase.
Realtek Semiconductor Corp (
At the Taipei foreign exchange market yesterday, the New Taiwan dollar rose against its US counterpart, gaining NT$0.047 to close at NT$34.117.
Turnover totalled US$494 million, compared with the previous day's US$310 million.
The local currency opened at NT$34.163 against the US dollar and traded between NT$34.1 and NT$34.163 during the day.
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