Shares Slide on Iraq-U.S. Conflict
May 16, 2011
The Taiwan Stock Exchange Weighted Index fell 84.20 to 6257.97. Tuesday's decline was the largest in almost three weeks. Volume was 1.10 billion shares valued at 37.4 billion New Taiwan dollars. Losers outnumbered gainers 303 to 63 with 58 shares unchanged. The index nosedived on the reports with only the electronics sector managing a marginal gain on the session. Any military action by the U.S. in the Persian Gulf may only have a short-term impact on the local stock market, but investors will watch carefully how the U.S. market reacts to the reports, analysts said. Unconfirmed reports that Acer received a major order for personal computers continued to boost the computer maker's share price, up 90 New Taiwan cents to NT$38.30. After the market closed, Acer, the world's seventh largest personal computer maker, confirmed that it is in talks with International Business Machines over a possible huge order for Acer personal computers, The reports pulling other technology shares like Taiwan Semiconductor Manufacturing, which gained 50 cents to NT$56, and Siliconware, which rose 60 cents to NT$40, higher on the session. Of actively traded issues, Mitac International Computer gained 10 cents to NT$22.10, Bao Chen Construction lost 30 cents to NT$18.10, and China Steel shed 40 cents to NT$26.60.
