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14:24 30Jul09 RTRS-REFILE-Taiwan stocks fall on China worries, TSMC falls (Refiles to fix typo in headline) * Main index tracks losses on China stocks * TSMC falls before Q2 result * UMC rises on better-than-expected Q2 earnings * Market seen gaining support at 6,900 pts (Updates quotes, hot stocks; Adds details) TAIPEI, July 30 (Reuters) - Taiwan stocks ended 0.8 percent lower on Thursday, their second straight daily slide, as concerns about a sustained recovery in China and the United States weighed on export-reliant shares such as TSMC <2330.tw>. The main TAIEX share index <.TWII> closed 56.52 points lower at 7,027.11, staging a 1.6 percent drop over two sessions. Taiwan Semiconductor Manufacturing Co (TSMC) , the world's top contract chip maker, dipped 0.88 percent, pushing the semiconductor sub-index <.TSII> 0.8 percent lower. Turnover was less active, at T$146 billion ($4.4 billion) from Wednesday's T$162 billion. "The falls in the U.S. and China stock markets were like pouring a bucket of cold water on fire for the Taiwan market," said Andrew Deng, an assistant vice president at Taiwan International Securities Corp. "A slowdown in China's economic recovery could be hurtful because Taiwan relies on China for its exports," he said, predicting that the TAIEX will gain support at 6,900 points into next week. Taiwan stocks had gained 53 percent since the beginning of 2009, making it the world's third-best performer, in part due to investor optimism that Taiwan's warming ties with China would help boost the island's economy. The Shanghai Composite Index <.SSEC> sank 5 percent on Wednesday to post its biggest daily decline in eight months, as investors sold stocks on worries that major Chinese banks may start to restrict lending to cool select booming markets. [ID:nLT420593]. It was flat in afternoon trade on Thursday. Wall Street also fell overnight on worries that China's tighter lending would curb demand and hinder a global economic recovery. [.N] After the market closed, TSMC posted a better-than-expected profit of T$24.44 billion in the April-June quarter, raising further hopes the worst may be over for the tech sector. [ID:nTPU001540] Unitd Microelectronics Corp <2303.tw> , smaller rival of TSMC, ended 1.08 percent higher. The world's No.2 contract chip maker swung to a second-quarter profit and gave a robust outlook, underlining signs of a recovery in the chip foundry sector. [ID:nTP182537] Chi Mei Optoelectronics <3009.tw> dipped 0.27 percent. After the market close, the company posted a net loss of T$8.84 billion in the second quarter, less than market expectations. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day -0.8 percent Close on day 7,027.11 2009 intraday high 7,142.63 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] (Reporting by Joan Hsu; Editing by Ken Wills) ((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 TAIEX <.TWII><.TV.TW> Other indices <0#.inx.tw> TAISDAQ <.TWOII><.TV.TWO> TAIMEX Taiwan index futures <0#tx:> MSCI Taiwan index <.MSTW> SIMEX Taiwan index futures <0#stw:> FTSE TW50 index <.FTSETW50> Keywords: MARKETS TAIWAN STOCKS/
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