Profit-Taking Damps Shares
May 12, 2011
The Taiwan Stock Exchange Weighted Index slipped 2.61 to 6309.82. Trading volume was 50.5 billion New Taiwan dollars on volume of 1.49 billion shares, both three-week highs. Losers outnumbered gainers 183 to 158 while the remaining 83 issues were unchanged. Foreign institutions have been net buyers of shares for the past two weeks in anticipation of Taiwan's inclusion in a worldwide fund index, analysts said. Recent leaders in the financial and petrochemical sectors lost value Friday. The biggest losers were Cathay Life, down NT$1 to NT$168, First Commercial Bank, fell NT$2 to NT$163, and Formosa Plastics, slipped NT$1 to NT$58. Of actively traded issues, Taiwan Semiconductor added NT$1.50 to NT$55.50, Pacific Construction lost 30 New Taiwan cents to NT$25.30 and Shinkong Synthetic gained NT$1 to NT$22.20.
