AGL 38.20 Increased By ▲ 0.05 (0.13%)
AIRLINK 129.30 Increased By ▲ 4.23 (3.38%)
BOP 7.85 Increased By ▲ 1.00 (14.6%)
CNERGY 4.66 Increased By ▲ 0.21 (4.72%)
DCL 8.35 Increased By ▲ 0.44 (5.56%)
DFML 38.86 Increased By ▲ 1.52 (4.07%)
DGKC 82.20 Increased By ▲ 4.43 (5.7%)
FCCL 33.64 Increased By ▲ 3.06 (10.01%)
FFBL 75.75 Increased By ▲ 6.89 (10.01%)
FFL 12.83 Increased By ▲ 0.97 (8.18%)
HUBC 110.72 Increased By ▲ 6.22 (5.95%)
HUMNL 14.03 Increased By ▲ 0.54 (4%)
KEL 5.22 Increased By ▲ 0.57 (12.26%)
KOSM 7.69 Increased By ▲ 0.52 (7.25%)
MLCF 40.08 Increased By ▲ 3.64 (9.99%)
NBP 72.51 Increased By ▲ 6.59 (10%)
OGDC 189.18 Increased By ▲ 9.65 (5.38%)
PAEL 25.74 Increased By ▲ 1.31 (5.36%)
PIBTL 7.38 Increased By ▲ 0.23 (3.22%)
PPL 153.45 Increased By ▲ 9.75 (6.78%)
PRL 25.52 Increased By ▲ 1.20 (4.93%)
PTC 17.92 Increased By ▲ 1.52 (9.27%)
SEARL 82.50 Increased By ▲ 3.93 (5%)
TELE 7.63 Increased By ▲ 0.41 (5.68%)
TOMCL 32.50 Increased By ▲ 0.53 (1.66%)
TPLP 8.48 Increased By ▲ 0.35 (4.31%)
TREET 16.74 Increased By ▲ 0.61 (3.78%)
TRG 56.01 Increased By ▲ 1.35 (2.47%)
UNITY 28.85 Increased By ▲ 1.35 (4.91%)
WTL 1.34 Increased By ▲ 0.05 (3.88%)
BR100 10,659 Increased By 569.2 (5.64%)
BR30 31,331 Increased By 1822.5 (6.18%)
KSE100 99,269 Increased By 4695.1 (4.96%)
KSE30 31,032 Increased By 1587.6 (5.39%)

Taiwan stocks fell 0.65 percent on Friday, tracking a drop on Wall Street, with the technology index sliding ahead of key sales data from TSMC and UMC, the world's top two contract chip makers. The main TAIEX share index ended down 54.55 points at 8,300.71, easing from a seven-year closing high on Thursday.
The electronics sub-index fell 0.86 percent weighed down by a 1.25 percent slide in UMC. After the market closed, UMC, the world's No 2 contract chip maker, posted a 3 percent drop in its May sales, although the result improved from April thanks to a recovery fuelled by new PCs and consumer devices.
Bigger rival TSMC bucked the broader market trend to close up 1.08 percent. It said after the market closed its May sales fell 6 percent. The financial sub-index dipped 0.09 percent after ABN Amro said on Friday it would buy branches of a failed Taiwan lender.
US stocks tumbled on Thursday as Treasury yields surged above 5 percent, reinforcing fears that global inflation would force borrowing costs to rise. "It seems the biggest risk everybody is worried about is finally happening," said John Kuo, who manages T$8 billion (US $242 million) for Fuh Hwa Securities Investment Trust.
"You've got to be very careful if the Fed raises interest rates." Kuo has 40 percent of his portfolio in stocks, sharply down from 70 percent early this week. Turnover jumped to T$133.7 billion from T$122.9 billion on Thursday.
Taishin Financial fell 0.9 percent. The firm said after the market closed that it would set up a life insurance tie-up with Dutch insurer Aegon NV. Nanya Technology, Taiwan's No 2 DRAM chip maker, closed 0.18 percent lower. Nanya told Reuters it expects to post a loss in the current quarter.

Copyright Reuters, 2007

Comments

Comments are closed.