Taipei shares outlook: Lower on Wall St falls/bank opg tax report

TAIPEI (AFX-ASIA) - Share prices are expected to open lower, with sentiment undermined by continued losses on Wall Street overnight and reports that the Ministry of Finance and parliament have agreed to reimpose the bank operating tax from July this year, dealers said.	    They said concerns over prospects for the global and local economies, industrial fundamentals and the local currency will continue to overshadow the local bourse.	    Yesterday, the weighted index closed down 19.28 points at 5,623.42 on turnover of 80.77 bln twd. 	    Foreign institutions were net sellers of shares worth 1.51 bln twd, local investment trusts net sellers of 415.97 mln twd and brokers net sellers of 26.92 mln twd.	    "Local electronics may take their lead from NASDAQ ... and the financial sector may be hit by the report on the bank operating tax," Entrust Securities Investment Consulting Co assistant vice president Tom Tang said. 	    "The bluechips will be key to the broad market today as there are fears that U.S. funds may dispose of their holdings" overseas so as to be ready to meet redemption demand at home, Tang said.	    A firmer Philadelphia semiconductor index and Micron shares overnight may help ease concerns over the wafer foundry's lower utilisation rates.	    "Some are hoping that the NASDAQ can hold support at 1,800 points, Micron seems to be more stable ... but there are concerns that wafer foundry firms see losses if utilisation falls below 50 pct," he said.	    Local DRAM shares are seen consolidating further as Micron Technology delayed its results report. 

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