Taiwan Stocks: Far Eastern Department Stores, HTC, TPK Holding
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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