The benchmark Taiex Index sank 1.3 percent to 7,760.85, the lowest close since Feb. 7, after Finance Minister Christina Liu said the ministry is aiming to reach a decision on whether to reinstate a capital-gains tax on stock trades within a month. The market is closed for a holiday tomorrow.
Far Eastern Department Stores Ltd. (2903) (2903 TT) slid 6.7 percent to NT$34.70, the most since Dec. 13. Net income in 2011 was NT$2.14 billion ($72.6 million), 15 percent lower than the average estimates of 16 analysts compiled by Bloomberg.
HTC Corp. (2498) (2498 TT) lost 5.5 percent to NT$555, the lowest close since Feb. 8. TPK Holding Co. (3673) (3673 TT) slumped 6.7 percent to NT$442, the biggest drop since Dec. 8. Investors are selling high-priced stocks, such as TPK and HTC, ahead of a decision on whether to reinstate stock capital gains tax, Beyond Asset Management President Michael On said by phone in Taipei today.
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