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Taiwan Stocks Fall Most in Asia as LCD Shares Drop: Taipei Mover

Jan. 7 (Bloomberg) -- Taiwan’s shares fell the most among Asia’s equity markets, led by the nation’s biggest flat-panel companies.

Innolux Corp., the largest liquid-crystal display maker on the island, dropped 4.2 percent. AU Optronics Corp., the second biggest, declined 3.3 percent. Chunghwa Picture Tubes Ltd. decreased 1 percent.

The Taiex index retreated 0.6 percent to 7,760.40 at 11:47 a.m. local time, poised for the biggest drop since Dec. 21. The benchmark measure has gained 9.5 percent from its Nov. 21 low.

“There’s some profit-taking after we rose for a while and the index is being dragged down by the LCD makers as well,” said Sam Hsieh, a Taipei-based fund manager at Fuh Hwa Securities Investment Trust Co., who helps oversee the equivalent of $7.8 billion. “There are no new drivers so investors are taking a break. Still, the Taiex should gain this year as the global economy is recovering.”

U.S. payrolls rose by 155,000 workers last month following a revised 161,000 advance in November, which was more than initially estimated. The median estimate of 82 economists surveyed by Bloomberg called for an increase of 152,000.

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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