UBS Securities trims year-end Taiex target on slowing tech demand

Taiwan News
Date: 2015-07-20
By: Central News Agency

Taipei, July 20 (CNA) Swiss brokerage firm UBS Securities has cut its forecast for the Taiex, Taiwan stock exchange’s benchmark index, for the end of the year from 9,750 to 9,200 points, making its third downward revision in two months.

Taiwan’s exports slowed down in the first half of 2015, and “we believe conditions are unlikely to improve substantially in the second half,” William Dong (???), equities and research head of UBS Securities’ Taipei branch, wrote in a note to clients on July 17.

“With many tech companies citing low demand visibility and/or ongoing inventory adjustments, we believe a seasonal pickup in tech shipments may prove short-lived,” Dong said. “One exception though is Apple’s supply chain.”     [FULL  STORY]

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