With the exception of two, all companies listed on the TSEC Taiwan Technology Index saw declines in their share price today. Only the share prices for Compal (2324.TW up 0.32%) and Inventec (2356.TW stayed the same) didn't go down. The decline in tech company share prices followed the Taiwan Weighted Index (^TWII) down. The TAIEX went down 1.74% to close at 6918.48.
Other markets in the region followed suit. The Hang Seng (^HSI) lossed 2.58% of its value, the Korean KOSPI (^KS11) fell 1.83%, the The NIKKEI225 (^N225) went down 0.77% and the NIKKEI300 (^N300) went down 0.68%.
In Silliness is.....The Chen Scandal and Declining Share Prices we noted how the China Post attributed the Monday decline in the TAIEX (^TWII) to the Chen Shui Bian scandal. What I did miss was that Forbes, a publication I think is pretty good, also jumped in on blaming the ex-president's money laundering scandal for the decline in Monday's stock prices (see Chen's Apology Rocks Taiwanese Financials, hat-tip The View from Taiwan). Hopefully such silly assertions won't be in the press tomorrow.
I personally suspect an increase in the oil price to US$116 per barrel may be responsible for the declines (see Oil rises in Asia on falling US gasoline supplies). But with the stock market who ever really knows?
[Link: TSEC Taiwan Technology Index stock prices here @ http://finance.yahoo.com/p?k=pf_14]
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