Game sector weak despite event win
The China Post news staffTaiwan's gaming shares were mostly weak yesterday, despite the championship title won by the Taiwanese team in a major international gaming competition.
October 16, 2012, 2:37 pm TWN
Most of the shares opened high and then went on a declining trend, with the gaming sub-index under the TAIEX falling 0.2 percent by noon.
The Taiwanese team, the Taipei Assassins, on Sunday beat the South Koreans and won the championship title in the “League of Legends” Season 2 World Championship series. Yesterday, Shih Yen-shiang, Minister of Economic Affairs, said that the government would help the gaming industry develop better hardware and software to raise their international competitiveness.
Chang Chueh-yiu, head of a local videogame association, said the government can help promote video games and gaming competition at the community level. Hardware may be set up at district sports centers to attract gamers, he said.
Yet according to experts, it wasn't the first time the government said it would help the gaming industry. As a result most gaming shares were tepid yesterday. OMG at one point fell below NT$100 to reach NT$96, its closest ever, partially due to its poor September sales. XPEC Entertainment had at one point fallen by its daily limit, following a rally last Friday.
Separately, Taiwan share prices closed down 18.14 points or 0.24 percent at 7,418.90 yesterday.
Trade volume was more troubling. It stood at a mere NT$46.38 billion, the second-lowest this year.