UMC closed @ 95.00 -3 vol 7,407,000 (very low volume)
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The TWSE index dropped 227.22, or 2.6 percent, to 8536.05.
Declines were limited after the Finance Ministry yesterday cut
the daily down limit on stocks by half, to 3.5 percent, to head
off a slide for the market's first day of trading since the
election. Some investors were also encouraged by the Chinese
government's muted response to the election as Beijing simply
reiterated its policy that Taiwan is a part of China without
making further military threats.
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Chen Shui-bian wins elections; James Soong only 2.5 percentage points back. Synopsis: Taiwan President elect Chen Shui-bian's victory has been 70% to 80% discounted in the Taiwan stock market. ACCUMULATE TSMC, UMC, Winbond, ProMos, Powerchip, Acer Labs, Systex, Acer Sertek, Asustek, Wintek, Siliconware Corp. whose earnings are driven by global electronics trends. BUY Acer Peripherals, Yageo, Nan Ya Plastics, Formosa Chemical & Fiber. China-Taiwan: More Conciliation than Crisis.ù Potential new government in õslow motion.ù Economy and corporate earnings growth fundamentals: Strong in 2000 and 2001. |
