Shares fell yesterday, dragged down by memory-chip stocks after Intel Corp disclosed it had formed a joint venture with Micron Technology Inc, which could intensify competition for the nation's chipmakers.
The TAIEX lost 44.23 points, or 0.7 percent, to 6,059.19, on turnover of NT$66.51 billion (US$1.98 billion). Decliners led gainers 694 to 298, with 199 stocks unchanged.
Intel and Micron said on Monday they had formed a joint venture -- IM Flash Technologies LLC -- to produce NAND flash chips and that they had locked in Apple Computer as a major customer.
"The deal between Intel and Micron spreads concerns among Asia's chipmakers that competition will intensify in what is already a very competitive market," said Stanley Chou, a manager at Barits Investment Service (
Taiwanese memory-chip stocks didn't fall as much as their South Korean counterparts, traders said, because none of the nation's memory-chip makers supply NAND chips to Apple, limiting the potential impact of the new venture.
Nanya Technology Corp
The electronics sector fell 1.1 percent yesterday.
Derek Lam, a senior trader at Daiwa SMBC Cathay Securities (
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