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Taipei shares close down 4.44 percent

Taipei shares close down 4.44 percent

Taiwan share prices closed down 4.44 percent yesterday, tracking Wall Street's overnight fall and weaker regional markets, dealers said. The weighted index fell 200.7 points to 4,320.77 on turnover of NT$54.2 billion (US$1.64 billion).
Losers led gainers by 1,531 to 134 with 84 stocks unchanged.
A total of 68 shares closed limit-down seven percent, against six that were limit-up.
Financials were down 5.98 percent, electronics 4.16 percent lower and cement off 3.66 percent.
The local bourse "will still decline for the rest of the week unless U.S. shares make a strong rebound," said Mega International Investment Service trader Stanley Chou. Taiwan Cooperative fell 4.2 percent to NT$15.00 after the bank agreed to extend ProMOS Technologies' US$8 billion loan repayment schedule by a year.
ProMOS, which has some NT$56.5 billion in outstanding loans, fell limit-down to NT$1.88 after its creditor banks reportedly were not planning to increase loans.
Hon Hai Precision Industry, which makes Apple's iPod, fell 3.9 percent to 61.50, Quanta Computer lost 4.1 percent to 0.70, and Acer shed 3.3 percent to 39.65, on negative leads from the US.
Taiwan Semiconductor Manufacturing Co fell 4.65 percent to 41.00 and peer United Microelectronics Corp dropped 6.01 percent to 7.35.
Cathay Financial was down 5.56 percent at 33.1, while Taiwan Cement was off 4.14 percent to 24.30.


Updated : 2021-07-25 14:05 GMT+08:00