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Taiwan stocks end 2.71 pct lower

(Xinhua)
Updated: 2008-10-23 19:38

HONG KONG -- Taiwan stocks fell 132.08 points on Thursday with much thinner turnover, according to media reports reaching here Thursday from Taipei.

An employee works behind a monitor displaying the stock market inside a securities company in Taipei October 23, 2008. Asian stocks fell to a 4-year low on Thursday on growing fears a global recession would depress corporate earnings. [Agencies]

The benchmark weighted index opened at the day's lowest 4,706.13 and fluctuated within narrow range before dropping 132.08 points, or 2.71 percent, to close at 4,730.51.

Related readings:  Taiwan market to stay down for a while  Asia stocks drop on dark global economy outlook  Stocks fall as slump saps profits

Turnover shrank sharply to 25.73 billion New Taiwan dollars (US$771.12 million ) from Wednesday's 47.04 billion New Taiwan dollars (US$1.43 billion).

Losers outnumbered advancers 1,341 to 159, with 245 stocks remaining unchanged.

All eight major stock categories were lower. Pulp and paper companies slumped 3.4 percent. Foodstuff issues and banking and financial shares both fell 3.3 percent. Cement stocks and construction issues both dropped 3.2 percent. Textile stocks shed 2.9 percent. Machinery and electronics shares lost 2.8 percent while plastics and chemicals shares went down 2.5 percent.