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Thursday, 15 July 2010 - Taiwan stocks flat; focus moves from China to earnings
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    Read more with google mobile : Taiwan stocks flat; focus moves from China to earnings

    Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Taiwan stocks flat; focus moves from China to earnings Reuters - 1 hour 19 minutes ago Send IM Story Print * Tech earnings the next focus * China data factored into prices * Transport, banks gain; chips, electronics slip TAIPEI, July 15 - Taiwan stocks fell 0.13 percent on Thursday, with chip and technology stocks in the lead as investors turned their attention from Chinese economic growth figures, which fell within expectations, to company earnings. Chip and tech firms <.TSII> <.TELI> fell back from gains the previous day that were inspired by Intel's <INTC.O> strong forecasts, while more defensive stocks such as transport <.TTPI> and banks <.TFNI> gained. China's annual economic growth eased to 10.3 percent in the second quarter, a touch weaker than expected , but the slowdown had largely been anticipated and the focus among Taiwan investors shifted to tech company earnings that are due in the coming weeks. "China's GDP growth is a bit slower but still about 10 percent and that's not bad. The local market has largely priced that in and we really have to see if more tech companies can release good quarterly profits and give better outlooks," said Kevin Chung, manager at Jih Sun Investment Consulting. "Honestly, if tech demand is not as strong as we had expected in the coming months, the market will go down." Chung did not rule out the TAIEX share index <.TWII> falling to 7,000 points by the end of the third quarter. The index fell 9.99 points to 7,704.52. It had fallen as much as 0.42 percent before the Chinese data and risen as much as 0.23 percent after. Concern over the U.S. recovery expressed by the Federal Reserve [ID:nN14148574] [ID:nN14122226] also held gains in check. Among chip companies, United Microelectronics Corp <2303.TW> slipped 0.67 percent, Taiwan Semiconductor Manufacturing Co <2330.TW> fell 0.17 percent while Mediatek Inc <2454.TW> fell 2.5 percent. The sub-index <.TSII> fell 0.7 percent. Components maker Hon Hai <2317.TW> fell 0.4 percent while computer maker Acer <2353.TW> ended flat, and LCD maker AU Optronics <2409.TW> fell 2.25 percent. AU will report earnings on July 28, TSMC will report on July 29 and UMC reports on Aug 4. Among gainers, financials <.TFNI> rose 0.5 percent, helped in part by hopes of good business prospects in China that offset a sluggish debut in Shanghai by Agricultural Bank of China <601288.SS> [ID:nTOE66D07M], The food sub-index rose 0.43 percent, with Wei-Chuan Foods Corp <1201.TW> up 0.7 percent, while transport stocks rose 1 percent. Recommend Send IM Story Print Related Articles Japan's NTT to buy S.Africa IT firm Dimension Data AFP - 16 minutes ago CNPC builds Xinjiang gas network to meet local need Reuters - 32 minutes ago China June fiscal revenue up 14.7 pct yr/yr Reuters - 34 minutes ago New strike hits Honda parts supplier in China Reuters - 36 minutes ago China stocks post biggest percent fall in 2 weeks Reuters - 38 minutes ago News Search Top Stories 'Significant advances' made towards AIDS vaccine Experts urge US to restrict drug Avandia US Fed weighs new measures as recovery falters Avandia increases risk of heart problems: panel Libyan aid ship set to dock at Egyptian port More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Penelope Cruz, Javier Bardem tie the knot Mel Gibson takes aim at Hispanics in fresh rant Rapid weight loss best way to slim down: studies Experts urge US to restrict drug Avandia Tiger-rescue plan to be drawn up in Indonesia More Most Viewed » Reclusive top mathematician turns down prize, again Germany's 'Octopus oracle' keeps perfect record Amputee cat gets bionic legs Fans gather for Michael Jackson death anniversary Who's right - the dolphin or the octopus? More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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