Local bourse declines, select high-tech stocks outperform


CNA

TAIPEI — The local bourse closed lower yesterday amid lingering concerns over the economic fundamentals at home and abroad, but buying in some large-cap stocks prevented the broader market from falling further, dealers said.

Led by PC vendor Asustek Computer Inc., which reported better-than-expected earnings for the second quarter, select electronics heavyweights attracted bargain hunting after recent consolidation, the dealers said.

The weighted index closed down 19.71 points, or 0.26 percent, at 7,371.44, after moving between 7,360.10 and 7,404.94 on turnover of NT$73.47 billion.