Shares of Nippon Electric Glass (5214.T: Quote, Profile, Research, Stock Buzz) and Asahi Glass Co (5201.T: Quote, Profile, Research, Stock Buzz) tumbled on Thursday after rival Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) cut its outlook on slower-than-expected demand for glass used in flat TVs. [ID:nN03517425]
Corning's profit warning came on the same day that flat panel maker LG Display Co Ltd (034220.KS: Quote, Profile, Research, Stock Buzz) (LPL.N: Quote, Profile, Research, Stock Buzz) said it would keep its output at 90 percent of normal as prices remain weak and demand slow for flat screen TVs and PCs. [ID:nSEO155444]
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