Hon Hai Precision, Quanta Computer top list of decliners

Stocks fell yesterday, led by exporters such as Hon Hai Precision Industry Co (鴻海精密) and Quanta Computer Inc (廣達電腦) after the NT dollar's biggest gain in two weeks against the dollar caused concern export growth may slow.

The TAIEX shed 34.88, or 0.6 percent, to 5,821.80. About six stocks gained for every five that declined.

The futures contract for October delivery dropped 0.4 percent to 5,834.

Hon Hai, the nation's largest electronic manufacturer, fell NT$4, or 2.6 percent, to NT$152.

Quanta, the country's largest notebook computer, shed NT$2,or 2.3 percent, to NT$85.50.

Exports rose by 11.6 percent last month, slower than the 13 percent growth in August, the Ministry of Finance said in a statement on Tuesday.

"The rising New Taiwan dollar is a threat to export growth," said Simon Chao (趙永宏), a fund manager at President Investment Trust Corp (統一投信).

"Many investors are reluctant to add more shares," he said.

China Motor Corp (中華汽車) gained NT$0.50, or 0.8 percent, to NT$60.50.

Companies that count China as their biggest market gained after the Directorate General of Budget, Accounting and Statistics said shipments to China, the nation's largest export destination, more than doubled.

China Development Financial Holding Corp (中華開發金控), the nation's fifth largest financial company by market value, gained NT$0.40, or 3 percent, to NT$13.80 after a Chinese-language newspaper cited chairwoman Diana Chen (陳敏薰) as saying the company is welling to merge with another financial holding company.