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Taiwan stocks fall on overseas concerns; Apple suppliers down
May 18, 2017 / 3:52 AM / 6 months ago

Taiwan stocks fall on overseas concerns; Apple suppliers down

    TAIPEI, May 18 (Reuters) - Taiwan stocks fell on Thursday
following losses in overseas markets on concerns over what the
turmoil in the White House could mean for the U.S. presidency.
    Uncertainty is mounting over U.S. President Donald Trump's
future following reports that he tried to interfere with a
federal investigation in the United States.             
    Some Apple Inc          suppliers were also hit after
Qualcomm Inc          filed a lawsuit against them as the legal
battle between the U.S. chipmaker and the iPhone maker
intensifies.
    As of 0328 GMT, the main TAIEX index         fell 0.6
percent to 9,957.14, after closing down 0.2 percent in the
previous session.
    The electronics subindex         sank 0.5 percent, while the
financials subindex         lost 0.9 percent.
    Qualcomm's suit was against Foxconn, formally known as Hon
Hai Precision          , Pegatron Corp          , Wistron Corp
          and Compal Electronics Inc          .
    Qualcomm said in its complaint that Apple had advised the
contract manufacturers to withhold royalty payments and agreed
to indemnify them against any damages resulting from the breach
of their agreements with Qualcomm.             
    All four Taiwanese suppliers opened down in early trade, but
Compal reversed its loss to trade 1.7 percent higher near
midday.
    Hon Hai was off 1.5 percent, Pegatron was down 1.9 percent
and Wistron was 0.2 percent lower.
    The Taiwan dollar          softened T$0.08 to T$30.220 per
U.S. dollar.

 (Reporting by J.R. Wu)
  

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