Share prices closed 0.23 percent lower yesterday as hopes for an improvement in cross-strait trade and other links were dashed after a preliminary meeting of a government economic conference failed to ease restrictions, dealers said.
The Mainland Affairs Council (MAC) announced earlier that no consensus was reached on either the easing of rules on China-bound investment or on expanding cross-strait transport links.
"People had hoped the economic forum would reach a consensus on liberalizing China policy, but that hope is slipping away,'' said Sam Hsieh, a fund manager at Grand Cathay Securities Investment Trust Co (
The TAIEX fell 14.60 points at 6,376.39, on turnover of NT$67.84 billion (US$2.07 billion).
Decliners led risers 614 to 335, with 148 stocks unchanged.
The market languished in a tight range "as investors could not bring themselves to either sell down their holdings or buy shares aggressively," Jih Sun Securities Investment (
AU Optronics Corp's (
The company reported on Tuesday that its second-quarter net profit tumbled nearly two-thirds to NT$182 million from the year-earlier period on steep declines in panel prices.
But AU Optronic's shares may be supported by a report which said the company won its first order from Samsung Electronics Co to supply liquid-crystal displays (LCD) for televisions, dealers said. AU Optronics was up 1.5 percent at NT$48.50.
Apart from TFT-LCD panels, makers of DRAM chips remain the most promising in the near-term as both sectors appear likely to enjoy a clearer recovery in product prices for the rest of the year, Lien said.
Among DRAM makers, Nanya Technology Corp (
However, Almost all stocks with China ties fell after news that the government-sponsored economic conference might fail to agree on loosening investment restrictions on the mainland.
Uni-President Enterprises Corp (
Airlines such as EVA Airways Corp (
BenQ Corp (明基), slumped 3.7 percent to NT$18.10 on reports that the company may post a loss of NT$7 billion in the second quarter.
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