Taiwan stocks lower

Taiwan stocks fell 0.16 percent on Monday, weighed down by Acer Inc and TSMC after their March sales results fell or just met market expectations. Smartphone maker HTC, however, rose 3.45 percent and was the most active issue by turnover. HTC, whose market capitalisation exceeded that of Nokia last week, posted a forecast-beating net profit for the first quarter on Friday.
Acer, the world's No 2 PC vendor, and TSMC, the world's top contract chip maker, both shed more than 2 percent, pushing the electronics sub-index down by 0.24 percent. The main TAIEX index closed 14.27 points lower at 8,880.27, its biggest percentage fall since March 28.