Taiwan stocks hit one-week low, techs weigh
* Taiwan stocks post biggest daily drop in a week
* Tech heavyweights pull tech sector lower
* Financial sector dragged by Hua Nan Financial (Updates indexes, adds details and quotes)
TAIPEI, June 23 (Reuters) - Taiwan stocks fell 2.27 percent
on Tuesday, their biggest daily drop in a week, as tech
exporters such as Hon Hai (2317.TW) tracked losses of U.S.
peers on fears over a tepid global economic outlook.
The main TAIEX share index closed 143.74 points lower at 6,197.47, its biggest one-day percentage fall since June 15. The TAIEX has fallen more than 10 percent so far this month.
Turnover fell to T$90.13 billion ($2.7 billion) from Monday's T$95.5 billion.
Investors were cautious after the World Bank said on Monday the global economic outlook remained "unusually uncertain." [.N]
In the tech sector, heavyweights such as Hon Hai, Taiwan's
top electronics gear maker, and Taiwan Semiconductor
Manufacturing Co (TSMC) (2330.TW), the world's largest contract
chip maker, dropped by 3.83 percent and 3.21 percent,
respectively.
The electronic sub-index .TELI fell 1.89 percent.
Nanya Technology (2408.TW), the island's No.2 DRAM maker, jumped by its 7 percent daily limit after news that its parent company, Formosa Plastic Co (1301.TW), had subscribed to new Nanya shares through a private placement.
Powerchip (5346.TWO), Taiwan's top DRAM chip maker, fell
3.23 percent, after it sank to its 7 percent daily limit low
earlier in the day.
Powerchip said on Monday it had secured agreement from at least 90 percent of investors holding its $158 million convertible bond to reset terms of the bond. [ID:nTP90348]
Delta Electronics Inc (2308.TW) gained 2 percent after a newspaper said it bought a big portion of a corporate bond issued by Dynapack International Technology Corp (3211.TWO), Taiwan's second-biggest supplier of notebook PC batteries.
Dynapack shares rose 1.84 percent.
The financial sub-index .TFNI ended 2.46 percent lower. --------------------TAIEX IN PERSPECTIVE--------------------
Move on day -2.27 percent
Close on day 6,197.47
2009 intraday high 7,084.83
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] (US$1=T$33) (Reporting by Joan Hsu; Editing by Neil Fullick)
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