1. Taiwan stocks fall, dragged down by tech after weak Apple outlook

Taiwan stocks fall, dragged down by tech after weak Apple outlook

Taiwan stocks fell on Wednesday as local technology shares took a hit after Apple Inc forecast a weaker revenue outlook and missed some of its smartphone shipment targets.

By: | Published: July 22, 2015 8:32 AM

Taiwan stocks fell on Wednesday as local technology shares took a hit after Apple Inc  forecast a weaker revenue outlook and missed some of its smartphone shipment targets.

Selling in shares of Apple’s Taiwanese suppliers, which make many of the components found in iPhones and the Apple Watch, mostly outpaced the 1 percent decline in electronics subindex  and the broader main index.

As of 0132 GMT, the main TAIEX index fell 0.7 percent, to 8,947.66, after closing up 0.3 percent in the previous session.

Shares of Taiwanese assembler of iPhones Hon Hai Precision  were off 1.1 percent, while those of rival and second assembler of iPhones Pegatron dropped a larger 2.9 percent.

Shares in chip supplier TSMC were off 1.1 percent and those in chip test and package supplier ASE were sliding a bigger 2.1 percent.

The Taiwan dollar firmed T$0.224 to T$31.183 per U.S. dollar.

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