Fri, Jul 09, 2004 - Page 11 News List

TAIEX falls; Hon Hai Precision, Quanta decline

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The TAIEX fell yesterday for the fifth day in six. Hon Hai Precision Industry Co (鴻海精密) led exporters lower after a report showed exports rose less than expected in June.

AU Optronics Corp (友達光電) and Acer Inc rose after they said their sales surged in June.

Exports rose 24.5 percent in June from a year earlier to US$14.44 billion after surging 39.5 percent in May, the Ministry of Finance reported on Wednesday.

"The next question will be whether Taiwan's electronics companies can do well in the third quarter" said Maggie Chien, an asset manager at Capital Investment Management Co (群益投顧).

"Given that June export growth was weaker than expected, we expect technology companies to have only mild sales growth in the third quarter," she said.

The TAIEX fell 14.39, or 0.3 percent, to 5713.39 . About the same number of stocks rose as those that declined. Futures for July delivery shed 0.3 percent to 5,634.

Quanta Computer Inc (廣達電腦), the world's biggest notebook computer maker, fell 0.7 percent to NT$67. Hon Hai Precision, the country's largest electronics manufacturer by sales, fell 0.8 percent to NT$118.

AU Optronics, the world's third-largest maker of flat-panel displays used in computers and televisions, gained 0.2 percent to NT$47.90. Last month's sales more than doubled from a year ago to NT$15.9 billion. Sales were NT$16.6 billion in May.

Acer, the country's third-largest computer company by market value, rose 0.5 percent to NT$44 after it said sales last year rose 57 percent from a year ago to NT$9.9 billion.

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