Taiwan: Stocks drop; tech, HTC down

[TAIPEI] Taiwan stocks fell 0.23 per cent on Tuesday as declines in key tech names and a poor CPI reading soured investor sentiment.

The main TAIEX index fell 22.41 points to 9828.77 as of 0156 GMT, after closing up 0.25 per cent on Monday.

The electronics subindex was down 0.41 per cent, dragged lower by smartphone maker HTC Corp that fell 2.82 per cent after reporting a 38.7 per cent on-year fall in April sales, and computer brand AsusTek Computer Inc, which notched a 1.52 per cent decline.

Semiconductors also dropped 0.59 per cent, though autos gained 1.86 per cent.

The island's consumer price index (CPI) fell more than expected last month, its fourth straight decline.

The Taiwan dollar was up T$0.072 to stand at T$30.704 to the US dollar.

REUTERS