Taiwanese stocks showed signs of fatigue last Friday on the back of disappointing second quarter performance from Taiwan Semiconductor Manufacturing Co and Largan Precision Co. Traditional manufacturing stocks fluctuated in a day of discombobulation, with the TAIEX entering a period of consolidation. The day’s transactions reached NT$99.631 billion, but failed to break through the NT$100 billion mark of the previous three day’s trading. Stock market heavyweight Largan Precision Co’s second quarter gross margin sunk to 66.49 percent, falling below the first quarter’s gross margin of 70.9 percent. Largan made NT$4.71 billion in net profit during the second quarter, a reduction of 3.48 percent on the previous quarter, while the company’s second quarter earnings per share fell to NT$35.14 from NT$36.41 in the first quarter, failing to meet expectations.

Source: Taipei Times July 17, 2017 16:07 UTC