Taiwan's key stock index fell, led by Taiwan Semiconductor Manufacturing Co (
Leaving the market mixed, Grand Commercial Bank (
The TWSE Index fell 17.66, or 0.3 percent, to 5158.79, after rising as much as 0.7 percent. Within the index, 232 stocks rose and 171 fell. The total value of trade today was NT$36.3 billion (US$1.1 billion), the lowest this year.
Taiwan's regulators asked investors to refrain from selling shares and requested details of their stockholdings to stem the stock market's decline.
For the second time in the past 12 months, local fund managers say the Securities & Futures Commission (
"Our government has told us we can't sell stocks too much -- so we buy one stock and sell another," said John Lin, who helps manage NT$12 billion (US$365 million) at Prudential Securities Investment Trust Co (
TSMC fell NT$3, or 3.2 percent, to NT$89.50. The largest made-to-order chipmaker said slow demand from networking companies may drag down the pace of recovery -- expected to be driven by new orders from personal computer makers -- in the second half.
Grand Commercial Bank rose NT$0.45, or 6.6 percent, to NT$7.25. ABN Amro Holding NV, the largest Dutch bank, wants to acquire a 50 percent stake in the bank, the Commercial Times newspaper reported, without citing anyone.
Grand Commercial Bank is in talks with local and foreign banks including ABN Amro, said Grand Commercial Vice President Peng Yu-fa.
Memory chipmakers slid after the Philadelphia Stock Exchange Semiconductor Index, a price-weighted index of 16 companies involved in the design and manufacture of chips, fell 2.4 percent yesterday.
Mosel Vitelic Inc (茂矽科技) fell NT$0.20, or 0.9 percent, to NT$21. Nanya Technology Corp (南亞科技) fell NT$0.70, or 2.5 percent, to NT$27.40. Powerchip Semiconductor Corp (力晶半導體) fell NT$0.20, or 0.7 percent, to NT$29.
Mobile telephone companies gained. The telecommunications regulator recommended the government allow companies to pay the fee for so-called third-generation mobile-phone licenses in 15 years, a government official said.
Vivien Wong, director-general of the planning department at the Directorate General of Telecommunications (
Chunghwa Telecom Co (
Acer Inc (
United Microelectronics Corp (UMC,
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