Taiwan stocks fell, led by VIA Technologies Inc (
The TWSE Index fell 28.85, or 0.6 percent, to 4,985.11. On the index, 359 stocks fell and 82 rose. The total value of trade was NT$27.2 billion (US$798 million), the lowest since Dec. 27, and nearly two-thirds lower than the six-month daily average of NT$79.8 billion.
"Trade volume is the problem," said Chiang Chih-hau, who manages NT$1.5 billion (US$44 million) in bonds and technology stocks in Taiwan at Barits Securities Corp. "I'm not buying much because volume is too low and second quarter revenues are bad."
Stocks also fell on concern about rising tensions between China and Taiwan. China was to begin a military exercise in the Taiwan Strait yesterday, Taiwan's state-run Central News Agency reported. Taiwan President Chen Shui-bian (
VIA Technologies, Taiwan's biggest chip designer, fell NT$7, or 2.7 percent, to NT$251. Though sales rose 2 percent in May from a year ago, they declined 16 percent from the previous month to NT$2.7 billion.
"We'd originally predicted sales in May of about NT$3 billion," said Huang Han-wei, an analyst at Fubon Securities Co (
Silicon Integrated Systems Co (
Banks rose after the Economic Daily newspaper reported the Ministry of Finance is considering a merger between state-controlled banks International Co-mmercial Bank of China (中國國際商銀), Chiao Tung Bank (交通銀行), and Hua Nan Commercial Bank (華南商銀).
ICBC, Taiwan's third-largest lender by market value, rose NT$0.10, or 0.4 percent, to NT$23.30. Hua Nan Bank, the sixth biggest, rose NT$0.20, or 1 percent, to NT$20.50. Chiao Tung Bank, the seventh largest, rose US$0.30, or 1.2 percent, to NT$24.70. Chinatrust Commercial Bank (
Ritek Corp. (
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