Taiwan stocks fell 0.3 percent on Thursday due to uncertainty ahead of legislative elections over the weekend, with shares of contract electronics maker Hon Hai giving up early gains despite logging record sales. The main TAIEX share index ended down 27.79 points at 8,057.27, following a 2.5 percent gain in the previous two sessions.
Turnover was modest at T$134.24 billion ($4.13 billion), down from T$149.7 billion on Wednesday. "When the election looming, we really don't know what will happen and we'd better stay away from the market," said Kevin Chung, manager at Jih Sun Investment Consulting.
Hon Hai Precision Industry, the market's most active share by turnover, closed flat and top contract chip maker Taiwan Semiconductor Manufacturing Co (TSMC) fell 2.3 percent, pulling the electronics sub-index down 0.6 percent. TSMC posted a 30 percent annual rise in December sales as the market closed. But its December sales fell from November's level.
LCD maker AU Optronics Corp lost 0.4 percent, and smaller rival Innolux Display, which is preparing for LCD TV production, shed 4.9 percent. The financial sector was off 1.3 percent. Chunghwa Telecom was flat following a report that it is launching new plans with free 3G handsets and discounted calling rates for users who sign a two-year contract, as its stock resumes trading following a capital reduction.
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