Finance-related stocks in Taiwan, such as Hua Nan Financial Holdings Co (華南金控), declined as investors bet the the sector's 13 percent gain this year sufficiently reflects an increase in earnings.
Hua Nan Financial shares fell 4.1 percent yesterday to NT$28.
The TAIEX fell 1.39, or 0.03 percent, to 5,536.42 as about 11 stocks fell for every eight that rose.
The total value of trade was NT$68.8 billion (US$2 billion).
"Some electronics companies have quite low valuations now, which may attract investors to start buying them again," said Telan Chen (陳德蘭), who manages NT$5 billion (US$147 million) in stocks at Cathay Securities Investment Trust Co (國泰投信).
"Third-quarter profits should improve," he said.
Taiwan Semiconductor Manu-facturing Co (台積電), the world's biggest chipmaker on a contract basis, rose NT$1.5, or 2 percent, to NT$75.5 after Chief Financial Officer Harvey Chang (張孝威) reiterated a 20 percent sales growth forecast in the second quarter from the previous quarter.
Ability Enterprise Co (
The distributor of copiers and facsimile machines for companies such as Canon Inc will take over Viewquest Technologies Inc (
At the Taipei foreign exchange market, the New Taiwan dollar lost ground against the US dollar, shedding NT$0.016 yesterday to close at NT$34.117 against the greenback.
Turnover totalled US$473 million, compared with the previous day's US$362 million.
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