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Wednesday, 11 August 2010 - Taiwan stocks end down; Acer falls on weak sales
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    Read more with google mobile : Taiwan stocks end down; Acer falls on weak sales

    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 end down; Acer falls on weak sales Reuters - 1 hour 24 minutes ago Send IM Story Print * Acer hits two-week closing low after weak sales report * TSMC flat after record monthly sales, new investments * Transport stocks give up early gains TAIPEI, Aug 11 - Taiwan stocks fell 1.02 percent on Wednesday, with PC vendor Acer Inc <2353.TW> tumbling after it reported a fall in July sales and leading other electronics companies lower on concern over demand. Worries over the U.S. economy after the Federal Reserve took steps to counter a weakening recovery in one of Taiwan's top export markets also took a toll on sentiment [ID:nN09275781] "The impact of the Fed announcement is one aspect of Wednesday's fall. It could herald slower demand for Taiwan electronics and a poorer outlook," said John Chiu, a vice president at Fuh Hwa Securities Investment Trust. "There are also companies such as Acer posting weak sales. The business outlook for electronics companies is poorer for Q3." The main TAIEX share index <.TWII> ended down 81.71 points at 7,895.03. Acer shares fell more than 5 percent in early trade before closing 4.1 percent lower after the company reported a 38 percent year-on-year fall in sales in July. [ID:nTPV001845] The electronics sub-index <.TELI> fell 0.88 percent and the electronics components sub-index <.TEPI> was down 1.18 percent. Top contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd <2330.TW> ended flat as investors have largely priced in its good July sales [ID:nTOE67806W] and have begun to worry about slower demand late this year. Concerns linger over a supply glut in the chip foundry market, but TSMC's board approved on Tuesday new investments for expansion in its core chip business and other energy-related sectors. [ID:nTPV001846] Banking shares ran into profit-taking, with the sub-index <.TFNI> down 2.45 percent. Investors also pocketed quick profits from transport shares <.TTPI>, which gave up early gains to fall 0.48 percent. "It is reasonable to see some profit-taking after recent rises. Transport shares should still be worthwhile investments in the longer term if you see their improving fundamentals," said Kevin Chung, manager at Jih Sun Investment Consulting. Wan Hai Lines Ltd <2615.TW> defied weakness, up 2.3 percent after it reported strong July revenue on higher prices for freight. Chung said the TAIEX could be trapped between 7,800-8,000 points this week. Foreign investors turned net sellers of Taiwan stocks on Tuesday, shedding about T$2.2 billion-worth. For the month to date however they remained net buyers of about T$28.4 billion. (Reporting by Jonathan Standing and Baker Li; Editing by Chris Lewis) Recommend Send IM Story Print Related Articles Diverted A380 lands in New Caledonia for 1st time AFP - 23 minutes ago India steel min sees Posco plant environment clearance Reuters - 24 minutes ago Dollar nears 15-month low vs. yen; stocks fall Reuters - 30 minutes ago US-BUSINESS Summary Reuters - 30 minutes ago TABLE-Sundram Fasteners April-June net up 32 pct Reuters - 33 minutes ago News Search Top Stories Supermodel Campbell defends war crimes testimony Euro football championship advance vital for Spurs US Fed promises stimulus to help slowing recovery New superbugs spreading from South Asia: study Chelsea agree Carvalho fee with Real More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Visitors attack Taiwan 'haunted house' actors Chelsea agree Carvalho fee with Real Sauna contest in Finland cut short as Russian dies New superbugs spreading from South Asia: study A long, hot Ramadan for many devout Muslims More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study Massive ice island breaks off Greenland glacier 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

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