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Taiwan stocks fall 0.2 pct for 3rd day

Taiwan stocks fall 0.2 pct for 3rd day

Taiwan’s Taiex index fell 15.77, or 0.2 percent, to 7,835.54 at the 1:30 p.m. close of Taipei trading yesterday, the third day of declines.
China Airlines Ltd., Taiwan’s largest carrier fell 4.1 percent to NT$18.80, the biggest decline in two weeks. Its rating was cut to “sell” from “neutral” and its share- price estimate lowered by 12 percent to NT$16.40 by Goldman Sachs Group Inc. analysts led by Hino Lam. EVA Airways Corp., Taiwan’s second-largest carrier, slid 5.8 percent to a two-week low of NT$22.05. Goldman Sachs lowered the company’s rating to “neutral” from “buy” and reduced its price forecast by 9.5 percent to NT$25.60.
Evergreen Marine Corp., Taiwan’s largest container-shipping line, plunged 4.4 percent to NT$20.55, the lowest since June 30. Yang Ming Marine Transport Corp., the island’s second-largest, fell 5 percent to NT$18.25, the lowest since July 13.
Maersk Line said Wednesday the global shipping industry may have to cut box cargo capacity from the fourth quarter as demand growth slows at U.S. and European retailers.


Updated : 2021-07-25 12:19 GMT+08:00