Stocks fell as chipmakers such as United Microelectronics Corp (
UMC fell NT$1.50, or 3.4 percent, to NT$43.30. HSBC Securities (Asia) Ltd cut its 2002 earnings forecast for the world's No. 2 made-to-order chipmaker by more than a tenth, citing lower third-quarter sales growth as customers cut back orders.
"Chipmakers' third-quarter orders aren't so clear," said Jeff Chen, who manages NT$3.8 billion (US$109 million) in stocks at E. Sun Securities Investment Trust Co (
The TAIEX fell 43.28, or 0.8 percent, to 5,527.80. Within the index, about 23 stocks rose for every 20 that fell. The total value of trade was NT$50.3 billion (US$1.5 billion), almost three-fifths below the six-month daily average of NT$120.7 billion.
The index gained almost nine-tenths between Oct. 3 and April 24 on signs of a US economic recovery. It's fallen 14 percent since then on concern that recovery may lag expectations, damping a revival in companies' earnings.
Amtran Technology Co (
AU Optronics Corp (
Cosmos Bank Taiwan (
Elitegroup Computer Systems Co (精英電腦) rose NT$1, or 0.6 percent, to NT$170. The nation's third-largest computer-motherboard maker forecast sales in May grew a tenth to about NT$5 billion from April, which marked the bottom in terms of month-on-month sales, a Chinese-language newspaper reported, citing Chairman Chiang Kuo-ming (蔣國明). Demand will revive starting at the end of June, the paper cited Chiang as saying.
Silicon Integrated Systems Corp (
United Epitaxy Co (
VIA Technologies Inc (
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