SECURITIES ANALYSTS PREDICT SLOW RECOVERY FOR TAIEX IN 2003.

TAIPEI, Jan 2 Asia Pulse - Predicting that the Asian region in general may attain only moderate economic growth in the coming year, securities investment analysts of Morgan Stanley, Allianz Dresdner and Merrill Lynch have forecast that Taiwan's stock market has little chance of enjoying a vigorous rebound.

According to their reports, Taiwan's economy recovered at a much slower pace than expected in the fourth quarter, as electronic stocks remained in the doldrums.

Morgan Stanley's CEO for the Taiwan region, Lin Shui-shien, predicted that while Taiwan should be able to attain 3 percent economic growth in 2003, prospects for the stock market might not be so optimistic.

As the science and technological industries are not very enthusiastic in raising capital from the stock market, trading might be subdued, according to Lin.

On the other hand, he pointed out that the monetary sector and the traditional industries could resort to the stock market to raise funds for their re-structuring attempts.

An Analyst of Morgan Stanley's research department suggested that ...