Taiwan stocks closed the week on Friday down ten percent as a continuing election dispute muzzled sentiment, while a Nasdaq rally gave investors confidence to buy tech shares like AU Optronics.
The main TAIEX opened one percent higher but lost momentum to end down 0.39 percent at 6,132.62. The index had been Asia's best performer outside of China this year before the election.
The financial sub-index lost 1.29 percent, while the tech sub-index edged up 0.22 percent after the Nasdaq surged three percent on Thursday, scoring its biggest daily percentage gain in nine months.
Among major losers, First Financial Holding dropped 1.24 percent to T$23.80 and Fuhwa Financial Holding slid 4.11 percent to T$14.00.
But AU, the world's No.3 display screen maker, gained 1.79 percent to T$57.00 and rival Chi Mei jumped 3.88 percent to T$53.50 as investors bet on better earnings.
Electronic components maker Hon Hai Precision Industry Co was another winner, rising 1.08 percent to T$140.00 after settling a patent lawsuit with FCI, a connector unit of France's Areva Group.
Turnover shrank to T$97.79 billion from T$119.28 billion in the previous session, underlying the caution before opposition parties hold a major rally in Taipei on Saturday to press their demands to an immediate and full recount.
President Chen Shui-bian narrowly won re-election last Saturday, prompting thousands of opposition protestors to camp out in front of the presidential office, demanding a recount.
Taiwan lawmakers huddled on Friday to discuss legislation for a recount, just hours before the official announcement of incumbent Chen Shui-bian as the winner.
The over-the-counter TAISDAQ index dropped 1.27 percent to 133.88, while April TAIEX index futures was off 0.16 percent at 6,125.
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