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Updated Friday, December 21, 2007 0:00 am TWN, AP

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Index falls 2 percent on profit-taking

TAIPEI, Taiwan -- Taiwan’s main stock index fell Thursday as investors took profits from the previous session’s sharp gains.

The Weighted Price Index of the Taiwan Stock Exchange dropped 157.23 points, or 1.96 percent, to close at 7,857.08 after having shot up 2.6 percent Wednesday.

Investors did not feel confident about the market, said Stanley Chou of Mega International Investment.

“The market is still very volatile so investors are unwilling to hold stocks for long.” Chou said. “They sold when declines deepened.”

Construction shares and food stocks led the fall, with the subindexes shedding 3.4 percent and 3.2 percent respectively.

Shining Building Business lost 5.2 percent to NT$53, and Uni-President Enterprises dropped 3.5 percent to NT$36.30.

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