Taipei shares close weaker as global market concerns outweigh Ma verdict |
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Tue, 14 Aug 2007 07:18
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TAIPEI (XFN-ASIA) - Share prices closed weaker after a see-saw session as lingering concerns over global market uncertainty outweighed news that Ma Ying-jeou, the presidential candidate of Taiwan's main opposition party Kuomintang (KMT), has been cleared of corruption charges.The Taipei District Court today cleared Ma of charges that he misused more than 11 mln twd in expense accounts during his time as Taipei mayor from 1998 to 2006.The verdict boosted the market, particularly companies having links with mainland China, in intraday trade as it was seen boosting Ma's chances in next year's elections and rekindling hopes for improved cross-strait relations.However, the gains could not be sustained as global market and credit concerns came to the fore again toward the close, dragging the index down.The weighted index closed down 27.97 points or 0.31 pct at 8,910.99, after moving in the range of 8,840.26 and 9,023.26. Turnover was 142.72 bln twd.(1 usd = 33.00 twd)adela.lin@afxasia.comal/rc-xfnal/xfnrcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Taipei shares outlook - Mixed to higher; court verdict on Ma awaited 