*UMC closed down 2.50 at 75.00*
TAIPEI (AFX-ASIA) - Share prices closed mixed in modest trade with
profit-taking supporting the downside towards the close, dealers said.
In particular, investors disregarded the U.S. government's decision to
impose punitive anti-dumping tariffs upon domestic SRAM makers and bought
into electronics shares, reversing a negative trend from the opening, they said.
Fubon Securities analyst Michael Hsu said the market sustained a modest
technical weakening on reduced turnover, adding the U.S.' anti-dumping lead
produced mainly a psychological impact on stocks like Winbond and UMC in
early trade.
While SRAM exports to the U.S. account for a less than five pct share of
domestic makers' total outbound shipments, the anti-dumping lead would result
in higher product prices in the near term, he said.
"Led by select shares, the electronics sector stands a good chance of
regaining momentum and leading the broad market to recover 8,800 points in
the next couple of sessions."
Winbond was steady at 53.00 twd, off a limit-low of 49.30, on 64.40 mln
shares.
UMC was down 2.50 at 75.00, off a limit-low of 72.50, on 105 mln shares.
***TAIPEI INDEX CLOSES UP 1.83 PTS AT 8,708.29 |
