Taiwan stocks fall; tech earnings, outlook eyed

Sun May 11, 2014 10:22pm EDT

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TAIPEI, May 12 (Reuters) - Taiwan stocks declined 0.6
percent in mid-morning trade on Monday as investors turned a
wary eye to earnings and outlook statements from some of
Taiwan's biggest tech firms.
    As of 0206 GMT, the main TAIEX index was down 55.43
points at 8834.26, trailing other regional bourses and extending
the previous session's 0.46 percent drop.
    Electronics fell 0.74 percent, dragged lower by Hon
Hai Precision Industry Co Ltd, the largest contract
electronics manufacturer in the world, which fell 1.34 percent
and Quanta Computer Inc, the world's No.1 manufacturer
of laptop PCs, which dropped 1.57 percent.
    The two tech giants are set to report their first-quarter
earnings this week. According to Kevin Lin, founder of
Taipei-based financial consultancy Caizi School, investors are
nervous that earnings and outlook may not live up to high
expectations.
    Mobile telecoms operator Asia Pacific Telecom was
up 0.29 percent after it said it will decide on a potential
merger partner by the end of this month. 
    Semiconductors dropped 1.32 percent, while banks and
insurance companies were down 0.3 percent.
    The Taiwan dollar was up T$0.030 to stand at
T$30.145 to the U.S. dollar.

 (Reporting by Michael Gold; Editing by Anupama Dwivedi)
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