Taiwan stocks lower

Taiwan closed down fell 0.61 percent on Friday, joining declines in regional bourses amid lingering concern over the Greek debt crisis and with Apple Inc supplier Largan Precision Co Ltd down by daily limit after a media report of weaker margins. The main TAIEX index ended 48.51 points lower at 7,862.27. Property stocks topped gainers, while department stores and electricals were the top losers.
Largan, a lens supplier for Apple and HTC Corp, dropped 6.86 percent. It recorded a quarterly gross margin of less than 40 percent for the first time and said it did not expect business to pick up until the second quarter, the Economic Daily reported. United Microelectronics Corp, the world's No 2 contract chipmaker, slipped 0.66 percent. It said January sales fell 15.5 percent from a year earlier. The Taiwan dollar stood at T$29.496 in early afternoon trading, versus Thursday's close of T$29.495. Foreign investors were net buyers on Thursday, bringing their total buying to T$31.6 billion this month.