Stocks fell for a third day yesterday after the government said the nation's economy grew at its slowest pace in a year in the first quarter and cut its annual growth forecast as the SARS outbreak threatens travel, consumer spending, investment and exports.
Asustek Computer Inc (
The TAIEX dropped 27.97, or 0.7 percent, to 4,255.80. Almost four stocks fell for every one that advanced. The value of trade was NT$23.7 billion (US$683 million), the lowest level since Oct. 2, 2001.
The Taiwan Futures Index fell 0.5 percent to 4,239.
GDP grew 3.21 percent in the first quarter from a year earlier after expanding 4.22 percent in the fourth quarter, the Directorate-General of Budget, Accounting and Statistics said on Friday. The government also cut its full-year economic growth forecast to 2.89 percent from 3.68 percent.
Asustek Computer, the nation's largest computer-motherboard maker, fell NT$1, or 1.4 percent, to NT$72.
Quanta Computer, the country's largest notebook-computer make, declined 50 cents, or 0.8 percent, to NT$62.
"The rollout of new models of handsets and notebook computers may be delayed because of SARS," said James Tu (
"The outbreak hasn't been effectively contained," he said.
China Airlines Co (華航) fell NT$0.05, or 0.4 percent, to NT$11.50. The carrier, reiterated a preliminary estimated reduction of NT$1.1 billion in sales in the second quarter after SARS curbed travel demand, according to the airlines' statement to the Taiwan Stock Exchange.
EVA Airways Corp (
Grand Commercial Bank (
The lender that's controlled by the nation's largest food company, Uni-President Group (
Potential buyers include Chinatrust Financial Holding Co (