Taiwan: Stocks down; China, Fed in focus

[TAIPEI] Taiwan stocks fell on Tuesday, subdued by a continued weak performance in Chinese bourses and uncertainty over the US Fed's rate meeting this week.

The main TAIEX index fell 0.3 per cent to 8,280.49 as of 0148 GMT, largely in line with other regional markets, after closing flat at 8,307.29 in the previous session.

China's Shanghai Composite Index continued its downward slide, falling 1.74 per cent on further market reforms.

Uncertainty surrounding the Fed's decision about whether it will raise rates later this week also kept markets in check.

The electronics subindex sank 0.6 per cent, while the financials subindex was unchanged.

Electrical components skidded 2.06 per cent, though paper and pulp notched a 0.78 per cent gain.

The Taiwan dollar firmed T$0.16 to T$32.560 per US dollar.

REUTERS