Taiwan stocks fell, led by exporters such as Taiwan Semiconductor Manufacturing Co (TSMC,
The TAIEX fell 60.54, or 1.1 percent, to 5,675.65. Within the index, about six stocks fell for every five that rose. The total value of trade was NT$64.7 billion (US$1.9 billion), more than two-fifths below the six-month daily average of NT$121.3 billion.
The New Taiwan dollar yesterday rose 0.1 percent to NT$34.19 on Thursday. A strengthening local currency may narrow exporters' profit margins, which have already been cut by falling prices of computers, memory chips and other parts to make electronics products, investors said.
"Prices are calculated in US dollars, so revenue will fall when companies convert back to the local currency," said Yang Hsih-ming, who manages NT$1.5 billion (US$44 million) of stocks at Fu-hwa Securities Investment Trust Co (
For the month, the index lost 6.4 percent on concern an economic recovery in the US may lag expectations, damping a revival in earnings of companies such as Taiwan Semiconductor which sell most of their products to the world's largest economy.
Taiwan Semiconductor, fell NT$1, or 1.2 percent to NT$85.50.
The world's largest made-to-order chipmaker sold almost nine-tenths of its chips to the US, Japan and Europe in the first quarter.
The following stocks made significant gains or losses: Chicony Electronics Ltd (群光) rose NT$2, or 3.5 percent, to NT$60. The computer keyboard maker expects monthly sales will reach a record starting in September as it wins new orders from Hewlett-Packard Co, the Commercial Times reported.
Kye Systems Corp (
Nanya Technology Corp (
Picvue Electronics Ltd (
Silicon Application Corp (品佳) rose NT$2.10, or 6.8 percent, to NT$32.90 after the sales distributor of computer motherboards for companies such as Asustek Computer Inc (華碩電腦) and Micro-star International Co (微星) forecast demand in June will improve from May.
United World Chinese Commercial Bank (
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