Taiwan stocks ended 1.11 percent lower to a four-day low on Wednesday, weighed down by tech issues like TSMC as news of North Korea test-fired missiles raised political tensions in the region.
The main TAIEX share index fell to 6,659.96 points, its lowest sinc June 29. Still, it remains 6 percent higher than a low hit on June 21. Most of the sub-indexes finished lower, led by a 1.46 percent fall in the heavily weighted electronics sub-index.
"The geopolitical uncertainty worries some investors. They might just used this to cash in profits," said Annie Lin of Ta Chong Investment Trust, which oversees T$40 billion (US $1.24 billion) client assets.
There is limited upside for the key index in the short run, as investors wait for companies to report June sales through next Monday and second-quarter results throughout August, said Lin. Tech stocks were actively traded. Taiwan Semiconductor Manufacturing Co, the world's top contract chip maker, ended 1.87 percent lower.
High Tech Computer, which makes smartphones for global clients, fell 0.66 percent. Shin Kong Financial, Taiwan's number-eight financial holding company, ended unchanged.
Shin Kong said on Tuesday that it was seeking to buy a 16 percent stake in local brokerage Masterlink Securities. Masterlink gained 1.59 percent. E-Ton Solar, a leading solar cell maker, jumped 2.56 percent. E-Ton said on Tuesday it planned to more than triple its annual capacity by end of 2008 to tap fast-growing demand.
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