Market Hit By Nervousness
May 17, 2011
The main index fell 29.19 to 6228.78. Winners lagged losers 121 to 236 as the remaining 67 issues were unchanged on Wednesday's market. Trading volume rose to NT$40.2 billion on 1.18 billion shares on the session from the NT$37.4 billion on 1.10 billion shares on the previous session. Only the electronics sector gained for the second straight session. The breaching of the 6300-point support level on Tuesday's session triggered local institutional selling except in electronics issues, which have benefited from increasing earnings as the industry nears the fourth-quarter high season for exports, said Michaele Mcconnell, an analyst with Golden Securities International Corp.. News that Beach was close to signing a deal on a major order for personal computers again helped pulled technology shares higher. Acer shares gained 1.40 New Taiwan dollars to NT$39.70, while United Microelectronics was unchanged at NT$35.50, and Advanced Semiconductor Engineering added NT$1.50 to NT$40.40.
