stock / 32.985/806/ -/6.5

14:21 17Aug09 RTRS-Taiwan stocks end lower, hurt by tech exporters
* Weak U.S. consumer data weighs on technology shares
* Possible delay of China deal hurts banking shares
* TSMC falls after local newspaper reports on new orders

(Updates indexes, quotes)
TAIPEI, Aug 17 (Reuters) - Taiwan stocks closed 1.95 percent
lower on Monday, as weak consumer data from the United States
raised doubts about the strength of economic recovery, pressuring
export-reliant technology stocks such as Hon Hai <2317.TW>.
The main TAIEX share index <.TWII> finished 137.71 points
lower at 6,931.80, logging its worst daily percentage fall in
five weeks. Turnover was light at T$96 billion ($2.9 billion),
compared with T$125 billion on Friday.
Electronics parts giant Hon Hai, the market's most active
stock by turnover, lost 3.24 percent, pulling the electronics
sub-index <.TELI> 1.91 percent lower.
"Some foreign investors withdrew from risky bets after weak
consumer data in the United States," said Ernest Chiang, a fund
manager at IBT Asset Management.
Data from the Reuters/University of Michigan Surveys of
Consumers showed consumer confidence fell more than expected in
early August. [ID:nN14304812]
"But perhaps China stocks were the bigger influence, given
that China and Taiwan have had much closer trade ties since the
begining of this year," Chiang said.
China stocks slid more than 3 percent to their lowest in
seven weeks on Monday, on worries that the market's rally had got
ahead of the economic recovery. [ID:nBJD001065]
Financial shares <.TFNI> fell 2.28 percent, dragging on the
main board, with Cathay Financial <2882.TW>, the island's
top-listed financial holding firm, dropping 2.54 percent.
Taiwan President Ma Ying-jeou said during an interview with a
local newspaper that the signing of a FTA-like financial
agreement with China known as an Economic Cooperation Financial
Agreement (ECFA) probably would not take place until next year.
"A possible delay in the signing of the agreement probably
struck investors as bad news," Chiang added.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) <2330.TW>
fell 1.87 percent, pushing the semiconductor sub-index
<.TSII> 1.81 percent lower.
Shares of the world's top contract chip maker declined even
after a newspaper said the company had received new orders from
Broadcom .
Shares of construction and steel companies also retreated as
investors locked in profits after their recent rally on hopes for
growing demand for resconstruction after a typhoon hit the
island.
The construction sub-index <.TCOI> fell 1.63 percent, while
the steel and iron sub-index <.TSTI> dropped 1.06 percent.
Typhoon Morakot struck Taiwan a week ago, killing more than
500 people and causing T$30 billion in losses. [ID:nSP438700]

---------------------TAIEX IN PERSPECTIVE--------------------
Move on day -1.95 pct
Close on day 6,931.80
2009 intraday high 7,142.63
2009 intraday low 4,164.19
All-time high 12,682.41 12 FEB 1990
--------------------------------------------------------------
($1=T$32.9)
For a table of foreign trading in Taiwan stocks, double-click
on [ID:nTP170358]
((Reporting by Joan Hsu; Editing by Jonathan Hopfner))
((If you have a query or comment on this story, send an email to
news.feedback.asia@thomsonreuters.com))

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