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Apple suppliers boost Taiwan stocks; Acer down
August 20, 2012 / 1:16 AM / 5 years ago

Apple suppliers boost Taiwan stocks; Acer down

TAIPEI (Reuters) - Taiwan stocks rose 0.19 percent on Monday morning, paced by gains in Apple (AAPL.O) suppliers, including Genius (3406.TW), after Apple shares hit all-time high.

However, Acer (2353.TW), the world’s No.3 PC vendor, opened down 0.9 percent and quickly extended the loss to 2.2 percent. Acer posted a second-quarter net profit much worse than analysts had forecast after it made a one-time tax settlement in Europe.

At the opening bell, the main TAIEX index .TWII rose 14.13 points to 7,482.05, recovering some of a 0.3 percent loss on Friday.

Genius, a camera phone lens maker, added 1.1 percent. Hon Hai Precision (2317.TW), a major supplier of Apple, rose 0.7 percent.

The Taiwan dollar firmed by T$0.037 to trade at T$29.988.

Reporting by Faith Hung; Editing by John Mair

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