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Taiwan: Stocks slip ahead of earnings, views by key tech shares

Thursday, October 13, 2016 - 11:52
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Taiwan stocks fell on Monday on continued selling by foreign investors, and weighed down by heavyweights such as Taiwan Semiconductor Manufacturing Co.

[TAIPEI] Taiwan stocks were down on Thursday, tracking weak overseas markets and on caution ahead of statements later in the day on earnings and the outlook from key tech firms.

As of 0317 GMT, the main Taiex index fell 0.5 per cent, to 9,208.10 points. It closed up 0.4 per cent in the previous session.

The electronics subindex sank 0.6 per cent, while the financials subindex lost 0.8 per cent.

Contract chipmaker TSMC is due to issue its outlook for the fourth quarter after the market closes and is also expected to post a record high quarterly profit for the third quarter, analysts said.

Meanwhile, camera lens maker Largan is also due to issue its third quarter results after the market closes.

Both companies supply tech components used in the iPhone 7 and analysts will be listening for clues about demand strength for Apple Inc's newest smartphones from the two suppliers.

Shares in TSMC and Largan were each trading over 1 per cent lower.

The Taiwan dollar softened NT$0.086 to NT$31.715 per US dollar.

REUTERS