tw stock 23 dec

14:30 23Dec2008 RTRS-Taiwan stocks hit 2-wk closing low on DRAM makers

* DRAM shares plummet on news of applying for state aid
* Tourism shares drop despite of arrival of pandas
* Turnover falls to 2-week low in cautious trading

(Updates quotes, details)
By Faith Hung
TAIPEI, Dec 23 (Reuters) - Taiwan stocks fell 2.86 percent to
post their lowest close in more than two weeks on Tuesday,
weighed down by struggling DRAM firms, as poor November jobless
data renewed investor concerns about the health of the economy.
The main TAIEX share index <.TWII> closed down 129.68 points
at 4,405.86, its lowest since Dec 5, extending its slide to over
6 percent in two sessions.
The heavily-weighted electronics sub-index <.TELI> was off 3
percent and the financial sub-index <.TFNI> shed 2.46 percent.
Shares worth T$51.2 billion ($1.56 billion) changed hands --
a two-week low -- compared with T$67.2 billion a day ago.
"Every piece of news, including the jobless data, has been
negative, and there would be few exceptions as we head into the
first quarter," said Katty Wang, a fund manager of Prudential
Financial.
"No rally is in sight in the near term," said Wang, whose
firm manages about T$100 billion of client assets in Taiwan.
Tourism stocks fell as investors ignored news that a pair of
giant pandas from China, a goodwill gift from Beijing and the
latest sign of improving ties between the two political rivals,
would arrive in Taiwan later in the day. [ID:nPEK292356].
Formosa Regent <2707.TW>, a major hotel chain operator, ended
7 percent limit-down and Leofoo Development <2705.TW> shed 5.3
percent.
All DRAM makers, including Powerchip <5346.TWO>, ProMOS
<5387.TWO> and Nanya Technology <2408.TW>, fell by the 7 percent
limit. Powerchip said on Tuesday it had applied for government
assistance and had widened the degree of its output cut to 20-25
percent from 15 percent previously amid the sector's worst
downturn. [ID:nTP292206]
Loss-making ProMOS also said recently it had applied for
state aid.
Taiwan's seasonally adjusted jobless rate rose 4.62 percent
in November, the government said on Monday, as companies laid off
workers in response to a slowing global economy. [ID:nTP288751]
For a table of foreign trading in Taiwan stocks, double-click
on [ID:nTP170358]
---------------------TAIEX IN PERSPECTIVE--------------------
Move on day -2.86 percent
Close on day 4,405.86
2008 intraday high 9,309.95
2008 intraday low 3,955.43
All time high 12,682.41 12 FEB 1990
-------------------------------------------------------------
($1=T$33.0)
(Editing by Jonathan Hopfner))
((faith.hung@thomsonreuters.com; Reuters Messaging:
faith.hung.reuters.com@reuters.net; +886 2 2508 0815))
ASIA-PACIFIC STOCK MARKETS:
Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS]
S.E. Asia.............[.SO] Hong