Friday Jul 04 2008
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Taipei shares lower early on oil prices; tourism stocks rise
Published: Jul 04, 2008 

Share prices turned lower soon after the open because of rising crude oil prices and margin call pressure.

At 9.04 am, the weighted index was down 21.89 points or 0.30 pct at 7,372.21, after opening at 7,405.34.

Turnover was 6.58 bln twd.

The tourism sector was up 3.53 pct, whle financials lost 1.03 pct and electronics dropped 0.25 pct.

China Airlines was up 0.05 twd or 0.37 pct at 13.50 as regular Taiwan-China weekend charter flights began this morning, evidence of a warming in cross-strait relations that is expected to benefit the island's tourism and travel industry.

(1 usd = 30.40 twd)

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