Taipei shares outlook - Lower on Wall St weakness, caution ahead of co earnings |
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Mon, 22 Oct 2007 01:20
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TAIPEI (XFN-ASIA) - Share prices are expected to open lower on caution ahead of corporate earnings announcements, with Wall Street's sharp fall on Friday adding to the worries, dealers said.On Friday, the weighted index closed down 25.35 points or 0.26 pct at 9,611.72, on turnover of 139.00 bln twd.Foreign investors were net buyers of shares worth 3.07 bln twd , local investment trusts were net sellers of shares worth 38.76 mln twd, and brokers were net buyers of shares worth 406.52 mln twdAlex Huang, an assistant vice president at Mega International Investment Services Co Ltd, said the local bourse will not be immune to market worries arising from the sharp fall in US markets.'The local bourse will be undermined by the Wall Street lead, but it is a matter of how much rather than whether (there are any losses in the domestic market),' Huang said.Taiwan investors are also awaiting earnings results for the third quarter from large-cap companies.'Some Taipei stocks had surged on hopes of solid third-quarter earnings. Investors this week will evaluate the reality against expectations,' he said.Many local firms are due to report their results this week, including AU Optronics Corp which is due to report after the market close today.(1 usd = 32.60 twd)adela.lin@afxasia.com-xfnal/xfntmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Taipei shares open firmer; techs in focus tracking Nasdaq 