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Taiwan: Stocks down, in line with regional bourses


[TAIPEI] Taiwan stocks fell on Monday, in line with regional markets and Wall Street, ahead of a Federal Reserve rate meeting later this week.

As of 0150 GMT, the main TAIEX index fell 0.5 per cent to 8,720.26, after closing 0.26 per cent lower in the previous session.

Weak corporate earnings and a strong US dollar have cast uncertainty over the Fed's upcoming moves, though the market does not expect the committee to raise rates this week.

The electronics subindex sank 0.6 per cent, while the financials subindex lost 0.5 per cent.

Leading chipmakers including world's No.1 chip packaging and testing firm Advanced Semiconductor Engineering Inc and memory chip maker Inotera Memories Inc led declines, falling 2.5 and 2.89 per cent, respectively.

This drove the overall semiconductor subindex down 1.44 per cent, the worst performer among major subindexes.

The Taiwan dollar firmed T$0.029 to T$31.501 per US dollar.