Taiwan stocks fell 0.2 percent on Thursday morning, weighed by chipmakers such as TSMC, after a host of US chipmakers gave quarterly revenue forecasts that disappointed Wall Street. The main TAIEX index had slid to 8,377.15 points about one and half an hours into trade, extending the previous session's 0.3 percent decline and roughly in line with some regional bourse.
Semiconductor shares were bearing the brunt of a series of less-than-stellar earnings forecasts from their US peers, including Broadcom and Altera. TSMC, the world's No 1 contract chipmaker, shed nearly 2 percent, dragging the sub-index 1.2 percent lower. The overall electronics index dipped 0.4 percent. According to Kevin Lin, an analyst with Caizi School, a Taipei-based financial consultancy, Taiwanese investors were taking a wait-and-watch approach toward the current earnings season, partly driven by a gradually appreciating Taiwanese currency. HTC shares jumped 6.6 percent after a report that the company was planning to sell factories and outsource manufacturing.
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