twn stock /dlr 33.795 / 825 / +5.6

14:29 28Apr09 RTRS-Taiwan stocks hit 3-wk low as flu fears weigh * Market falls to 3-week closing low * Tourism, airline shares down on swine flu fears * Pharmaceutical shares up on potential business from flu * Want Want China's Taiwan debut gets strong response (Adds details and quotes) By Gina Chang TAIPEI, April 28 (Reuters) - Taiwan stocks fell 1.9 percent in volatile trade on Tuesday to a near three-week closing low, as uncertainty over the outbreak of swine flu triggered a heavy sell-off in tourism and airline shares. The main TAIEX share index <.TWII> finished down 108.32 points at 5,596.73, its weakest close since April 9 and extending a 3 percent fall in the previous session. Turnover was active at T$127 billion ($3.8 billion), but lower than Monday's T$136.8 billion. The tourism sub-index <.THOI> was the major loser, shedding 5.23 percent after the World Health Organisation raised its pandemic alert level over the swine flu virus. Hotel chain operators Leofoo Development <2705.tw> and Ambassador Hotel <2704.tw> both shed more than 6 percent. The broader transportation sub-index <.TTPI> also slid 5.19 percent, with China Airlines <2610.tw> and EVA Airways <2618.tw> both down by their 7 percent daily limit. "Trading has been quite volatile today due to the swine flu outbreak. Uncertainty over the flu is weighing on investor sentiment," said Andrew Deng, a vice president of Taiwan International Securities. "Tourism and transportation shares have already gained a lot from the positive effect of the cross-Strait negotiations. The outbreak of swine flu acted as a catalyst for their pull-back." On Sunday, Taiwan and China signed a series of landmark agreements on setting up a regulatory framework for financial services and opening up scheduled flights to each other. However, pharmaceutical and biotech shares received a boost from potential business stemming from the flu outbreak. Shares of Standard Chemical and Pharmaceutical <1720.tw> and Medtecs International <9103.tw> both jumped 7 percent limit-up. Analysts said worries over the swine flu outbreak would continue to weigh on the market, causing it to trade in a tight range in the next two to three weeks. Market sentiment was further pressured after a Wall Street Journal report said the U.S. Federal Reserve was pushing two major U.S. banks to raise more capital. Taiwan's financial sub-index <.TFNI> dropped 1.46 percent, erasing gains early in the session. The electronics sub-index <.TELI> fell 1.24 percent, with Chi Mei <3009.tw>, Taiwan's No.2 flat panel maker, down 6.61 percent ahead of its first-quarter earnings later Tuesday. HOT STOCKS -- Food and beverage company Want Want China's <0151.hk> Taiwan listing received an enthusiastic response from investors. The stock <9151.tw> was limit up on its trading debut, rising by T$1.05 per share to T$16.10. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day -1.9 percent Close on day 5,596.73 2009 intraday high 6,071.06 2009 intraday low 4,164.19 All time high 12,682.41 12 FEB 1990 ------------------------------------------------------------ For a table of foreign trading in Taiwan stocks, double-click on [ID:nTP170358] (US$1=T$33.8) (Editing by Chris Lewis) ((gina.chang@thomsonreuters.com; +886 2 2508-0815; Reuters Messaging:gina.chang.thomsonreuters.com@reuters.com)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS] OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU] DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary [WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts TOP NEWS: For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks <0#.index> Currency rates Dow Jones/NASDAQ <.DJI> <.IXIC> Nikkei <.N225> FTSE 100 <.FTSE> Debt <0#usbmk=> Taiwan dollar LME price overview TAIWAN MARKET: Taiwan equity mkt
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