Fri, May 09, 2003 - Page 11 News List

Stocks fall on report of slowing export growth in April

BLOOMBERG , TAIPEI

Stocks fell for the first day in five after a government report showed export growth slowed last month as the spread of severe acute respiratory syndrome (SARS) damped consumer spending and kept US and European customers away.

Quanta Computer Inc (廣達電腦) and Asustek Computer Inc (華碩電腦) paced declines. China Airlines Co (華航) and EVA Airways Corp (長榮航空) fell after the US and Japan advised their citizens against travel to Taiwan to stem the spread of SARS.

"The fear of SARS has deterred foreign buyers from coming to Taiwan, crippling Taiwanese exporters," said Eric Yang (楊長富), who manages a US$115 million technology fund at Invesco Taiwan Ltd (景順投信).

"Overseas buyers may start placing orders with rival Korean makers, fearing the outbreak can disrupt production in Taiwan and China." he said.

Taiwan's exports rose 5.6 percent from a year earlier, following a 10 percent gain in March, according to a Ministry of Finance report released on Wednesday after the market closed.

The TAIEX shed 84.66, or 2 percent, to 4,191.25. About nine stocks declined for every one that gained. The Taiwan Futures Index fell 1.9 percent to 4,165.

Quanta Computer, the nation's largest notebook computer maker, fell NT$2, or 3.2 percent, to NT$60.00. Asustek, largest mother-board manufacturer in the country, fell NT$1, or 1.4 percent, to NT$72.

China Airlines shares dropped NT$0.40, or 3.1 percent, to NT$12.40.

EVA Airways fell NT$0.30, or 2.6 percent, to NT$11.20.

Advanced Semiconductor Engineering Inc (日月光) fell NT$0.40, or 2.1 percent, to NT$18.60. The world's second-largest chip packager reported sales last month rose 16 percent to NT$4.3 billion (US$124 million). Revenue was NT$4 billion in March.

Chunghwa Telecom (中華電信), fell NT$0.50, or 1.0 percent, to NT$50. The company said last month's sales rose 0.1 percent to NT$14.8 billion from a year earlier. Sales increased 7.3 percent from NT$13.7 billion in the previous month.

Delta Electronics Inc (台達電子), the world's largest maker of power-supply parts for personal computers and other electronic products, fell NT$1.1, or 2.6 percent, to NT$41.60 after it said last month's sales rose 3 percent from a year ago to NT$4.3 billion.

MediaTek Inc (聯發科技), the world's biggest maker of chips for DVD players, fell NT$4, or 1.4 percent, to NT$286.00. It said sales last month rose 7 percent from a year ago.

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