Taiwan stocks fell 0.94 percent on Tuesday, as big tech exporters such as TSMC tracked Wall Street losses and after the island's July export orders showed the slowest growth in more than five years. The main TAIEX share index closed down 66.12 points at 6,964.60, following Monday's 1.7 percent rebound from a three-week closing low.
Turnover hit the year's lowest level at T$59.7 billion ($1.9 billion), down from the previous session's T$65.730 billion. "Trading volume was light because investors are still concerned about uncertainties that might affect the market and stayed on the sidelines," said Alex Huang, vice president of Mega International Securities Co. He was referring to lingering worries over the US credit woes and a slowing global economy.
Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker, lost 0.83 percent and rival United Microelectronics Corp (UMC) fell 0.38 percent, pulling the tech sector down 0.31 percent. They followed a 2.03 percent drop in the tech-heavy Nasdaq. US semiconductor shares dropped 1.56 percent.
Taiwan's July export orders rose 5.52 percent from a year earlier, missing expectations and marking its slowest growth in more than five years due to weaker demand from China and the United States, data showed on Monday.
Shares of the world's No 3 PC seller, Acer Inc, fell 0.16 percent and Asustek Computer fell 0.71 percent, after media reported that both companies are expected to ship one million low-cost laptops each in August. Shares of Cathay Financial, the island's top listed financial holding firm, declined 1.97 percent, pulling the financial sub-index down 1.19 percent.
Quanta Computer, the world's biggest contract maker of laptops, fell 0.41 percent after South Korea's LG Electronics Inc said it had agreed with Quanta to end eight years of patent fights and begin negotiations on royalties Quanta would pay.
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