Taiwan stocks dip; Acer, UMC, TSMC down

Wed Aug 7, 2013 10:33pm EDT

Related Topics

TAIPEI, Aug 8 (Reuters) - Acer Inc and UMC
 dragged Taiwan stocks 0.1 percent lower on Thursday
after the companies reported weak quarterly results.
    Acer, the world's No.4 PC maker, and UMC, the world's No.3
contract chipmaker, both fell about 3 percent, underperforming
the electronics subindex's 0.2 percent dip.
    About one and half hour into trade, the main TAIEX index
 had slipped to 7,912.33 points, recovering from a 1.5
percent drop in the prior session.
    Acer on Wednesday reported an unexpected net loss of T$343
million ($11.4 million) in the second quarter from a T$56
million profit a year earlier. 
    UMC reported a second-quarter net profit of T$1.8 billion,
lower than the profit of T$2.65 billion in the year-earlier
period and the T$6.59 billion in the previous quarter.
 
    Bigger rival TSMC edged down 0.5 percent. A Taiwan
government venture capital fund will sell more than 170 million
shares in TSMC, the world's top contract chip maker, in 2014 to
help fund Taiwan's budget, a source with direct knowledge of the
sale said on Thursday. 
     The Taiwan dollar was up T$0.089 to stand at
T$29.936 to the U.S. dollar. 
   
    ASIA-PACIFIC STOCK MARKET REPORTS: 
Japan..........  S.Korea.....  S.E. Asia..... 
Hong Kong.....  China.......  Australia/NZ.. 
India.........  
    REPORTS ON OTHER MARKETS:
Wall Street....... Gold......... Currency.. 
Eurostocks....... Oil........... JP bonds... 
ADR Report...... LME metals.. US bonds... 
Scrolling stocks news US...... 
Scrolling stocks news Europe.. 
Wall Street Week Ahead.............. 
Global Week Ahead.................. 
Real time FX commentary...........    
    DIARIES:    
U.S. earnings diary.............. 
Top global economic events....... 
All diaries.......................... 
    TOP NEWS:
Asian companies....... U.S. companies.... 
European companies.... Forex............. 
Global economy...... Technology, media. 
Financial services.... Political risk...... 
A multimedia version of Reuters Top News is available at:
topnews.session.rservices.com         
    LIVE PRICES & DATA:
World stocks......... Asian stocks.... 
Dow Jones................ NASDAQ.............. 
Nikkei.................. FTSE 100............ 
World forecasts... Asia Macro data.. 
Currency rates....  Debt...  
LME price overview...... 
Taiwan dollar............ 
    TAIWAN EQUITY MARKET:
Full directory................  
TAIEX...................  
TAIEX sub-indices...........  
Taiwan OTC index......  
TAIMEX Taiwan index futures.....<0#TX:> 
SGX-MSCI Taiwan index futures..<0#STW:>
Gretai OTC index futures.......<0#GTF:>
FTSE TW50 index............. 

 (Reporting by Faith Hung; Editing by Supriya Kurane)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.