Cathay, the island's largest passenger carrier, on Wednesday reported a first half loss while saying it will have a "much-improved performance" in the second half because SARS has been contained. Its stock jumped 4.1 percent to HK$11.50, its biggest weekly gain in two months. The Hang Seng dropped 3 percent.
The TAIEX dropped 2.9 percent to 5232.55. Exporters such as Taiwan Semiconductor and Hon Hai Precision Industry Co were the two biggest drags on the index after the island's export growth in July missed some economists' estimates.
Taiwan Semiconductor slid 3.3 percent to NT$58. Hon Hai, the island's biggest electronics maker by sales, gave up 11 percent to NT$122.
The nation's exports last month rose 4.5 percent from a year ago to US$11.6 billion, the government said Thursday after the market closed. The gain lagged the median 5.8 percent forecast in a Bloomberg News survey of seven economists.
The Kospi slumped 3.2 percent to 704.14. Korea Electric Power, which spends about a fifth of its fuel budget on oil, fell on concern higher crude prices may raise the company's costs. It slid 7 percent and helped make the Korea Electric and Gas Index the biggest drag on the Kospi.
Hyundai Motor Co, South Korea's largest automaker, slipped 8.8 percent to 32,600 won on concern that its agreement with workers to increase wages may raise labor costs.
AMP Ltd, Australia's biggest life insurer, slumped 8 percent, reaching a record low during the week after a report that its Henderson Global Investors unit may have broken rules for managing clients' money.
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