32.575./ 907/ -10.1

14:23 03Nov09 RTRS-Taiwan stocks drift lower as tech shares weaken * TAIEX falls for 6th session, hits one-month closing low * Foreign selling weighs on technology shares * Construction firms fall after gov't plan to levy land taxes * TAIEX seen trading 7,200 and 7,500 points this week-analyst (Updates indexes, adds quotes and details) TAIPEI, Nov 3 (Reuters) - Taiwan stocks slipped 0.17 percent on Tuesday to a fresh one-month closing low as investors pocketed gains in technology companies such as Hon Hai <2317.tw>, which have benefitted from solid quarterly earnings. The main TAIEX share index <.TWII> finished 12.25 points lower at 7,322.93, extending a five-session losing streak. Turnover was thin at T$79 billion ($2.4 billion), compared with Monday's T$85 billion, as caution prevailed ahead of the U.S. Fed's interest rate meeting and comments. Foreign investors became net sellers in Taiwan stocks for the first time in seven months in October, selling a net T$12 billion ($368 million). [ID:nTP88553]. Analysts speculate that more foreign selling lead to Tuesday's losses. "Foreign investors selling in technology heavyweights have been pressuring the broader board over the past few weeks, and I expect their selling to continue for the next little while," said Kevin Chung, an analyst at Jih Sun Investment Consulting Co. Chung said he expects the TAIEX to trade around its 90-day moving average at 7,300 this week. Electronics parts giant Hon Hai declined 1.53 percent, sending the heavily weighted electronics sub-index <.TELI> down 0.29 percent. TSMC <2330.tw> and its smaller rival UMC <2303.tw> , the world's two largest contract chip makers, fell 1 percent and 1.88 percent, respectively. The semiconductor sub-index <.TSII> slipped 0.57 percent. Construction shares fell on a media report that Taiwan may levy higher land value taxes on property owners who do not live on site, as part of an effort to curb speculation in the housing market. Real estate developer Farglory <5522.tw> slipped 0.74 percent, while the construction sub-index <.TCOI> dropped 1.94 percent. "Risk averse investors have shifted their focus to defensive plays and shares that could benefit from a economic pact with China," said Chang Chi-sheng, a fund manager at Uni-President Asset Management. Taiwan and China are set to sign an free trade agreement-like deal some time next year and the much anticipated pact was seen behind the main index's 60 percent rally so far this year. HOT STOCKS -- Wistron Corp <3231.tw> gained 0.36 percent after a local newspaper reported that it plans to set up an LCD TV manufacturing complex in China, with construction set to start next month and to be completed in June next year. --Taiwan's Evergreen Marine <2603.tw>, the world's fourth-largest container line, declined 0.62 percent, after it posted a net loss of T$2.58 billion in the third quarter. [ID:nTPU001819] ---------------------TAIEX IN PERSPECTIVE---------------- Move on day -0.17 pct Close on day 7,322.93 2009 intraday high 7,811.92 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 Jonathan Hopfner)) ((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
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