Taiwan stocks down

Taiwan stocks fell 1.42 percent on Tuesday, with Apple supplier Hon Hai Precision shedding 3.8 percent after an affiliate posted its worst ever first-half loss. The main TAIEX index ended down 106.28 points at 7,361.94, with panel makers and other electricals both down over 3 percent. Foxconn International Holdings, a Nokia handset maker that is about 70 percent owned by Hon Hai, posted on Tuesday its worst-ever first-half net loss due to dismal orders.
Hon Hai's chairman said he hopes to reach a deal with Japan's Sharp on its planned stake purchase this week. Hon Hai is also due to report first-half and second-quarter earnings later this week, with analysts forecasting a drop of about 35 percent in net profit from the previous quarter. The Taiwan dollar firmed slightly to stand at T$29.959. Foreign investors were net buyers on Monday, bringing their total buying to T$92.48 billion this month.