Taiwan shares ended down 0.10 percent on Friday at a one-and-a-half-month closing low, with heavyweights like Hon Hai falling as major markets slipped further after a global sell-off this week.
The main TAIEX share index shed 7.90 points to 7,670.77. The broader electronics sub-index slid 0.30 percent and the bank and insurance index dropped 0.29 percent. Turnover fell to T$116.593 billion ($3.5 billion) from T$136.05 billion the previous day.
"Some markets rebounded today and there is a chance that the TAIEX could see gains next week, although there is still pressure coming in from foreign funds," said Shin Kong Investment Trust asset manager Kevin Lin. "Foreign funds are still selling, but in the longer term, they are still bullish about the Taiwan market this year." The TAIEX had already fallen to a one-and-a-half-month closing low in the previous session, sliding 2.83 percent after China's stock market slide resulted in a global sell-off.
United Microelectronics Corp (UMC), the world's second-biggest contract chip maker, fell 0.25 percent, but larger rival Taiwan Semiconductor Manufacturing Co Ltd (TSMC) rose 0.15 percent. Top electronics parts maker Hon Hai Precision Industry Co fell 1.39 percent. Compal Electronics ended flat after it said its laptop shipments in 2007 would rise 38 percent from a year ago.
Taiwan Mobile, the island's third-largest telecommunications carrier rose 3.94 percent after it announced its acquisition of Taiwan Fixed Network on Thursday. Taiwan Fixed Network jumped 9.07 percent. Powertech Technology Inc, the world's biggest memory chip packager, declined 3.16 percent after Intel Capital, the investment arm of Intel Corp, announced on Thursday that it had agreed to invest US $65 million in the Taiwan company.
Motech Industries Inc, Taiwan's largest solar cell maker, fell 5.96 percent. The Economic Daily reported that the firm said at its board meeting on Thursday that it would issue global depository receipts (GDRs) of around 12 million to 15 million in new shares.
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