When it rains it pours: Taiwan hit again
The third major earthquake in just over a month -- IT stocks fall
Taiwan was hit but yet another earthquake this morning, making it the third since 21 September. Measuring 6.9 on the Richter scale, the quake hit the island's east coast in the early hours of the morning. In contrast to the previous two major earthquakes, the quake has caused little damage and no casualties have been reported. However, while Taiwanese production has not been affected, the third quake has hit local stock market confidence, prompting a fall in electronics stocks. The first quake, measuring 7.4, hit central Taiwan causing widespread damage and loss of life. That was followed a month later by another in the south, measuring 6.4. Now a third, albeit less destructive, earthquake has struck the centre of worldwide IT production, share prices are being nervously monitored. The Taiwanese earthquake has been cited by a range of IT companies, including IBM, Gateway and Dell, as the main reason behind disappointing results. Reduced production following the first quake pushed DRAM and motherboard prices through the roof. A reader has kindly pointed us to this link, a constantly updated earthquake report. ® Related Stories Massive quake hits Taiwan Earthquake costs Taiwan semicon industry $300m Taiwan quake blamed for Dell profit slip
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