Taiwan stocks dropped 0.58 percent on Monday, dragged by struggling smartphone brand HTC Corp, which plummeted on poor quarterly outlook. As of 0140 GMT, the main TAIEX index was down 53.91 points at 9283.46, after closing flat on Friday. The electronics subindex was down 0.84 percent. HTC tumbled 9.91 percent, in the first trading session after it announced a 49 percent on-year fall in May sales and lowered its second-quarter revenue guidance.
HTC's fall dragged down most major tech stocks. However, shares in crystal components maker and Apple Inc supplier TXC Corp rose 5 percent. Computers and peripheral equipment dropped 1.14 percent, while electrical components suffered a 1.23 percent decline. The Taiwan dollar was up T$0.037 to stand at T$30.986 to the US dollar.
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