Taipei shares close weaker, tracking Wall St after Bernanke comments |
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Thu, 19 Jul 2007 07:02
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TAIPEI (XFN-ASIA) - Share prices closed weaker, tracking an overnight pullback on Wall Street after Federal Reserve Chairman Ben Bernanke struck a cautious tone on the US economy and housing sector.Bernanke said the US housing sector might get worse before it gets better and that it remains a risk to consumer spending and overall economic growth.Dealers said downside on the local bourse was limited, however, by the still strong expectations that there will be another liquidity-driven rally ahead of the island's parliamentary and presidential elections early next year.The weighted index closed down 12.04 points or 0.13 pct at 9,473.31, off a high of 9,529.35 and a low of 9,441.79, on turnover of 232.29 bln twd.(1 usd = 32.80 twd)philip.wang@afxasia.compw/kmqxfnpw/xfnkmCOPYRIGHTCopyright 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 open weaker, tracking Wall St after Bernanke comments 