stock / 32.350/ 1345 / -13.1

14:20 02Oct09 RTRS-Taiwan stocks log worst day in 7 wks, off 15-mth high * TAIEX snaps 3-day winning streak on Wall Street slide * TSMC leads technolog shares lower * TAIEX seen trading 7,200-7,600 points next week (Updates quotes, hot stocks) TAIPEI, Oct 2 (Reuters) - Taiwan stocks fell 1.77 percent in their worst percentage slide in seven weeks on Friday as fears of a sluggish U.S. economic recovery triggered profit taking in technology shares including TSMC <2330.tw>. The main TAIEX shares index <.TWII> closed 133.41 points lower at 7,411.88, after ending at a 15-month high the previous session. The retreat was the index's worst daily fall since Aug 18. TSMC , the world's largest contract chipmaker, slipped 3.7 percent, with the semiconductor sub-index <.TSII> down 2.7 percent. Turnover was moderate at T$116 billion ($3.59 billion), roughly in line with this week's daily average of T$108 billion. "The fall was mostly related to the tumble on Wall Street, which was weighed by a poor reading in ISM figures," said Kevin Chung, an analyst at Jih Sun Investment Consulting Co. "Some investors translated that number into less orders and more inventories, both of which are harmful to corporate earnings." The Institute for Supply Management's index of national factory activity showed growth eased in September from August's reading and was sharply below economists' forecasts in Reuters poll. [ID:nN01290505] Hon Hai <2317.tw>, the world's top electronics parts maker, was the second-most actively traded issue by turnover, falling 2.33 percent. The electronics sub-index <.TELI> was down 1.78 percent. Compal Electronics <2324.tw>, the world's No.2 contract laptop PC maker, jumped 3.11 percent. Its gains came after a newspaper reported that Compal has won orders from Dell to manufacture notebook PCs and a local brokerage house forecast Compal's laptop shipments will grow 25 perent next year on increasing demand. But Shin Kong Financial <2888.tw>, parent of Taiwan's No. 3 insurer, finished up 0.37 percent. It was the most active traded issues by volume. "Financial shares have seen a sharp climb since early this year due to closer trade ties with China, and they are bound to rise further until Taiwan and China sign a financial agreement," said Chung. On Thursday, a local newspaper reported that Taiwan and China will this month sign a long-awaited agreement allowing tighter ties between their financial institutions, sending Taiwan's banking shares to a near 14-month high. [ID:nTP37613] Taiwan stocks have climbed more than 60 percent this year, making it the second-best performing market among the 30 tracked by Thomson Reuters, just behind China's Shenzhen <.SZSA1>. Investors are still betting the closer ties will brighten the outlook for Taiwanese firms and push the main index higher, a Reuters poll showed. [ID:nTP374878] Analysts said they expect the Taiwan stocks to trade mainly between 7,200 and 7,600 next week. Innolux Display Corp <3481.tw>, the world's No.2 LCD monitor maker, advanced 0.25 percent on a newspaper report that it is set to acquire Compal's subsidiary, Toppoly <3195.two>. [ID:nTP288937] Toppoly slumped 10.87 percent. ---------------------TAIEX IN PERSPECTIVE------------------ Move on day -1.77 pct Close on day 7,411.88 2009 intraday high 7,599.62 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 Kim Coghill)) ((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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