stock /32.505/1033/+8.1

15:48 03Jun09 RTRS-Taiwan stocks fall on techs, financials; Acer up * Technology, financial shares lose ground * LCD makers gain on expectations of rising demand from China * Acer rises after plan to sell netbook using Android system (Adds details and quotes) By Gina Chang TAIPEI, June 3 (Reuters) - Taiwan stocks fell 0.8 percent on Wednesday, with technology and financial stocks leading the decline, but Acer <2353.tw> bucked the trend after Microsoft set a launch date for its Windows 7 operating system. The main TAIEX share index <.TWII> finished down 55.94 points at 6,893.14, after breaching the psychologically important 7,000-point level and hitting a nine-month high earlier this week. Turnover was moderate at T$156 billion ($4.8 billion), much lower than Tuesday's T$232.2 billion. "The market already showed signs of weakening yesterday. It seems that it will have little chance to test above 7,000 points in the short term," said Alex Huang, a director of Mega International Securities. Huang added the TAIEX could find support around 6,500 points in the near term. The Taiwan index gained 15 percent in May and has rallied 50 percent so far this year, making it the third-best performing major market worldwide. The key technology sub-index <.TELI> fell 0.47 percent, though heavyweight Acer, the world's No. 3 PC brand, rose 2.96 percent after saying it plans to sell netbook PCs that run on Google's Android operating system. [ID:nTP189806] Another bright spot was LCD shares, which rallied after the secretary general of the China Video Industry Association said Chinese TV companies were expected to buy a total $4.4 billion worth of LCDs from Taiwan this year, doubling the previous target. [ID:nTP200865] AU Optronics <2409.tw> and Chi Mei Optoelectronics <3009.tw>, Taiwan's top two flat-panel makers, rose 0.87 percent and 4.2 percent, respectively, outpacing a 0.5 percent fall of the electronics sub-index <.TELI>. The construction sub-index <.TCOI>, which gained more than 61 percent in May alone, was the top loser of the day as it fell 6 percent after prosecutors said they were investigating two small-sized construction firms on possible embezzlement. "The investigations weighed on sentiment, and pushed down construction shares already under great pressure after rising so much," Huang said. HOT STOCKS -- Chip designer Elan Microelectronics <2458.tw>, currently embroiled in a patent lawsuit with Apple , climbed 0.83 percent after an executive told Reuters on Tuesday it was in preliminary talks with the iPhone maker on a possible settlement. [ID:nTP192938] -- China Development <2883.tw> edged up 0.11 percent after the newspaper cited a company executive as saying the four securities firms in which it holds a majority stake could be merged into a single company within 3-5 years if the government and shareholders agreed to it. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day -0.8 percent Close on day 6,893.14 2009 intraday high 7,084.83 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$32.5) (Editing by Lee Chyen Yee and Jacqueline Wong) ((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
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