Taiwan stocks rise; TPK jumps on order diversification reports

Sun Jan 19, 2014 9:55pm EST

TAIPEI, Jan 20 (Reuters) - Taiwan stocks firmed on Monday,
with electronics shares gaining 0.4 percent, led by
touch panel maker TPK Holding after reports that it is
diversifying from Apple Inc by receiving more orders
from Japanese and Korean companies.
    The main TAIEX index rose 0.3 percent, or 22.82
points to 8,618.82 at 0234 GMT, after opening flat.
    TPK jumped 6 percent and was the biggest turnover stock by
mid-session.
    Struggling computer company Acer Inc shed 3.7
percent to T$18.3, narrowing from a 4.7 percent loss at the
opening bell, after posting a greater-than-expected net loss of
T$7.6 billion ($254 million) on Friday. 
    "The market has reined-in expectations on Acer because of
its continued poor performance: The stock should bottom at T$16
to T$17 with investors eyeing the result of the company's new
products and cost-cutting measures," said Tom Tang, a vice
president of Masterlink Investment Advisory. 
    Fubon Securities analyst Arthur Liao on Monday cut his
forecast on Acer's 2014 notebook PC shipments by 8.2 percent to
15.7 million to reflect an expected industry decline of 11
percent this year. 
    The Taiwan dollar was up T$0.127 to stand at
T$30.094 to the U.S. dollar.
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