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Taiwan stocks fall as TSMC earnings below f'cast; Apple supplier Largan soars
April 14, 2017 / 2:28 AM / 5 months ago

Taiwan stocks fall as TSMC earnings below f'cast; Apple supplier Largan soars

TAIPEI, April 14 (Reuters) - Taiwan stocks fell on Friday, weighed by Taiwan Semiconductor Manufacturing Co (TSMC) after it reported less-than-expected earnings for the first quarter.

As of 0211 GMT, the main TAIEX index fell 0.65 percent to 9,771.26 points, after closing at 9,836.68 points in the previous session.

TSMC, the world’s top contract chip maker and a major supplier of Apple Inc, was off 1.6 percent.

The electronics subindex sank 0.5 percent, while the financials subindex lost 0.6 percent.

A bright spot, however, was Largan Precision, maker of camera phone lenses for Apple and other clients, with shares surging nearly 9 percent.

Largan’s first-quarter gross margin beat market expectations and the company gave a bullish outlook for April and May, local media reported on Friday.

The Taiwan dollar softened T$0.105 to T$30.430 per U.S. dollar. (Reporting by Faith Hung; Editing by Randy Fabi)

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