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Technology Stocks : Semi Equipment Analysis
SOXX 294.38-1.0%Nov 7 4:00 PM EST
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To: StanX Long who wrote (12727)12/10/2003 1:39:53 AM
From: StanX Long  Read Replies (1) of 95385
 
Taiwan stocks down, China up after Bush remarks
By Allen Wan
12:38am 12/10/03
TOKYO (CBS.MW) -- Taiwanese stocks fell Wednesday following President Bush's comments implying that he opposes Taiwan's President Chen Shui-bian's calls for a referendum next March. Taiwan's Weighted Average slipped 1 percent to 5,802. While analysts said that the referendum issue had hurt sentiment, stock losses were mostly due to heavy selling of shares in chip giants Taiwan Microelectronics (TSM) and United Microelectronics (UMC) following the release of weak sales data for November. Both stocks were down more than 2 percent. China fears that the referendum could lead to a unilateral declaration of independence by Taiwan. Taiwan's Chen said the referendum, which coincides with presidential elections, is aimed at getting voters to express their opposition to Chinese missiles targeted at the island. The Shanghai Composite, meanwhile, rose 1.1 percent to 1,459. China's economy continues to fire on all cylinders. On Wednesday, the State Statistical Bureau released data showing that factory output jumped 17.9 percent in November from a year earlier on the back of strong production of cars and cell phones.
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