Taiwan shares close down 0.67% on technology slide


CNA

TAIPEI, Taiwan — Taiwan share prices closed down 0.67 percent yesterday, with technology shares leading the slide after Acer Inc., the world’s second largest PC vendor, gave a negative forecast for its first-quarter sales on Friday, dealers said.

The weighted index closed 57.33 points lower, ending at 8,553.06, after moving between 8,549.26 and 8,604.24, on turnover of NT$78.556 billion.

Monday is the first trading day after Acer revised its forecast on PC sales downward, from an annual increase of 3 percent to an annual decline of 10 percent, citing weaker demand in western Europe and the United States.

Acer’s shares plunged by the daily maximum-allowed level of 7 percent to close at NT$67.80 per share on the main index.

Local contract laptop maker Wistron Corp. also saw its shares tumble 7 percent.

Shares of Asustek Computer Inc., the world’s fifth-largest PC maker, were also down nearly 6 percent, while Taiwan’s second largest notebook contract maker, Compal Electronics Inc., fell by over 5.8 percent.

Cement stocks posted the biggest rise amongst the eight major stock sectors, ending 0.9 percent higher.

The financial sector rose 0.1 percent.

In contrast, construction shares posted the heaviest losses of the day, finishing down 1.9 percent.

Textiles lost 1.0 percent and the machinery and electronics sector also shed 1.0 percent.

The plastics and chemicals sector was down 0.1 percent, while paper and pulp shares also dropped 0.1 percent.

Agri foods, however, remained flat.

A total of 1,076 stocks closed up, 2,978 finished down and 393 remained unchanged.