Mon, Sep 09, 2013 - Page 13 News List

HTC is biggest stock market loser this year

Staff writer, with CNA

Shares of smartphone vendor HTC Corp (宏達電) suffered the steepest decline among the 813 companies listed on the Taiwan Stock Exchange (TWSE) in the first eight months of this year, the exchange said on Saturday.

In the eight-month period, HTC shares fell 47.31 percent, while the weighted index on the main board rose 4.19 percent. HTC closed at NT$156.50 on Aug. 30, the last trading day in the month, after starting the year at about NT$300.

Its stock price has fallen on declining sales and the continuing prospect of stiff competition from Samsung Electronics Co and Apple Inc in the high-end model market. HTC has also encountered challenges from some Chinese brands, such as Huawei Technologies Co (華為) and ZTE Corp (中興), at the lower end of the market.

HTC shares have continued to trend lower since the end of last month, as investors remain wary of the company’s shipments following disappointing sales last month. In the July-to-August period, HTC’s consolidated sales totaled NT$28.9 billion (US$971,500 million), leading the market to expect that the smartphone vendor will fall short of its third-quarter sales target of NT$50 billion to NT$60 billion. The stock closed at NT$131 on Friday.

Integrated circuit designer ASMedia Technology Inc (祥碩) fell 39.23 percent in the first eight months of the year on escalating competition and was the

second-biggest loser on the market among listed companies. Connector supplier Aces Electronics Co (宏致) was next in line with a 36.35 percent decline due to falling profitability.

The stock that posted the highest gains was electronics component supplier BizLink Holding Inc (貿聯), which rose 337.3 percent in the eight-month period on the back of increasing shipments to Tesla Motors, the world’s largest electric vehicle maker.

Flat panel maker HannStar Display Corp (瀚宇彩晶) was next in line with a 281.25 percent rise in its share price on an improving bottom line, followed by printed circuit board producer Cheer Time Enterprise Co (晟鈦).

This story has been viewed 1463 times.
TOP top