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Monday, September 28, 2009
stock / 32.475/ 700 / -1.0
14:45 28Sep09 RTRS-Taiwan stocks hit 2-wk low, casino-linked shrs down * Casino-related shares down after referendum rejected * HTC slides after rival RIM reports dismal profit, outlook * Notebook PC makers fall on report Windows 7 effect to wane * Chinatrust falls after fund-raising move * Turnover thinnest in more than 1 month (Updates quotes, details and hot stocks) TAIPEI, Sept 28 (Reuters) - Taiwan stocks fell 0.83 percent to end at their lowest in two weeks on Monday, with casino-related shares such as Firich slumping after voters in a remote province rejected a plan to allow Taiwan's first casinos to be built there. The main TAIEX share index <.TWII> fell 60.61 points to 7,284.61 points, its lowest closing level since Sept. 14. Turnover was at its thinnest level in over one month at T$75 billion ($2.3 billion), compared with Friday's T$96 billion and last week's daily average at around T$110 billion. "Taiwan stocks fell as casino-related shares lost ground after residents in Penghu vetoed the government's plan to build a casino resort there," said Tom Tang, a vice-president at Masterlink Investment Advisory. Residents of the Penghu islands voted against a plan to allow Taiwan's first casinos to be built in their county on Saturday, snubbing gaming giants Harrah's Entertainment Inc. [HAMLEH.UL] and MGM Mirage . [ID:nTP176918] Casino-linked shares such as Firich Enterprises <8076.two> and ASTRO <3064.two> fell by their daily limits of close to 7 percent. The tourism sub-index <.THOI> lost 1 percent. Having surged to a 14 month high earlier in September, some fund managers expected the TAIEX to trade rangebound and the turnover to remain thin until the companies post their September sales early next month. "The index faced some pressure of profit-taking, but there have been no major negative events recently that would lead to impulsive selling," said Bevan Yeh, a senior fund manger at Prudential Securities Investment Trust. Smartphone maker HTC Corp <2498.tw>, the most actively traded issue by turnover, slipped 3.13 percent after rival Research In Motion Ltd reported a lower profit and gave a dismal outlook. [ID:nN24466680] Netbook pioneer Asustek <2357.tw> slipped 4.26 percent, sending the the computer and peripheral equipment sub-index <.TCPI> down 2.9 percent. "Most notebook PC makers retreated after a major foreign institution downgraded the whole sector on ground that optimism sparked by the launch of Windows 7 operating system could already be priced in, leaving the share prices little room to increase," said Prudential's Yeh. Asustek's competitors, Quanta <2382.tw> and Compal <2324.tw>, fell 2.9 percent and 3.91 percent, respectively. Mediatek <2454.tw>, Taiwan's top chip design house, gave up gains in early trade to fall 0.2 percent and was the third-most active stock by turnover. A local newspaper reported that Motorola would use Mediatek's solutions in its mobile phones. HOT STOCKS -- Chinatrust Financial <2891.tw> shed 3.76 percent after it said on Friday it plans to raise up to $200 million for its U.S. subsidiary to improve its financial capability. [ID: nTP185749] -- Wei-Chuan Foods <1201.tw>, which is related to
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