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Taiwan: Stocks down; Pegatron leads techs lower

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[TAIPEI] Taiwan stocks dropped 0.46 per cent on Tuesday, with Apple Inc assembler Pegatron Corp plummeting despite record quarterly earnings.

As of 0204 GMT, the main TAIEX index was down 45.20 points to 9,712.89, after closing flat on Monday.

The electronics subindex fell 0.51 per cent, dragged down by Pegatron, which fell 4.13 per cent.

On Monday, the contract assembler said the share of its income generated by mobile devices - largely Apple's iPhone 6, according to analysts - nearly doubled in the fourth quarter from a year earlier, while other product categories declined, suggesting increased reliance on the Silicon Valley giant.

Semiconductors were down 0.63 per cent, while banks and insurance holdings declined 0.43 per cent.

The Taiwan dollar was up T$0.124 to stand at T$31.379 to the US dollar.

REUTERS

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