TAIEX drops 2.4% in fourth straight decline

Taiwan's TAIEX index declined 163.96 points, or 2.4 percent, to 6,813.40 at the close of trade in Taipei, the fourth consecutive decline in the benchmark.

Catcher Technology Co. advanced NT$4.2, or 4.8 percent, to NT$92. The company, a maker of metal casings, will raise its gross margins to 40 percent in the second half on increased sales for Apple Inc.'s iPod, the Commercial Times reported.

Paragon Technologies Co. rose NT$8.5, or by its daily 7 percent limit, to NT$130.5. The Taiwanese provider of coatings for notebook computers said it bought back 2.5 percent of its own stock.

Uni-President Enterprises Corp., Taiwan's largest food company, declined NT$2.85, or its 7 percent limit, to NT$38.15. The government will ask food makers to lower their prices, The Economic Daily News reported.

Vanguard International Semiconductor Corp. lost NT$1.15, or its daily 6.8 percent limit, to NT$15.75. The company, an affiliate of Taiwan Semiconductor Manufacturing Co., posted a 53 percent decline in second-quarter profit and forecast declining sales.

Taiwan Semiconductor, which owns 36 percent of Vanguard, declined 30 cents, or 0.5 percent, to NT$55.4.