Stocks fell overall yesterday, led by Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) after a Chinese-language newspaper reported that the chip supplier will report a dip in sales in November from October.
China Motor Co (中華汽車) gained after the company said pretax profit at its China venture may quadruple.
The TAIEX shed 16.42, or 0.4 percent, to close at 4,738.98. The benchmark rose for the first week in three, climbing 2 percent.
TSMC fell NT$1, or 1.9 percent, to NT$51.50. A newspaper said the company's November sales reached NT$13.5 billion (US$386 million). That's 11 percent less than the previous month.
"Investors won't be so interested in companies whose sales are falling," said James Chen, who helps manage more than NT$100 billion in stocks at Fu Hwa Investment Trust Co (復華投信). Chen said he's buying shares of companies that make vehicle parts.
"Sectors whose monthly sales are up will attract more money," he said.
China Motor climbed NT$3.50, or 6.1 percent, to NT$60.50. The vehicle maker forecast pretax profit at Southeast Motor Co (東南汽車), its venture with the Fujian Province government, to climb to 1.2 billion yuan (US$145 million) next year from a projected 330 million yuan this year.
"That beats market expectations," Chen said. "I want to buy the stock, but I'm looking for a good point to get in."
More than five shares rose for every four that fell. The total value of trade was NT$69.5 billion.
Evergreen Marine Corp (長榮海運) rose NT$0.80, or 5.1 percent, to NT$16.60. Beijing said only vessels registered in China, Hong Kong, Macau and Taiwan will be allowed to apply to operate indirect cross-strait routes.
Hsinchu International Bank (
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