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Taiwan: Stocks down on weak 2015 GDP forecast

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Taiwan stocks fell on Monday after the government slashed its GDP growth outlook for the year.

[TAIPEI] Taiwan stocks fell on Monday after the government slashed its GDP growth outlook for the year.

As of 0151 GMT, the main TAIEX index fell 0.6 per cent, to 8,252.68, slightly trailing a mixed performance in other regional markets. It closed flat at 8,305.64 in the previous session.

Officials said Friday the island's economy will only grow by 1.56 per cent this year, far lower than the 3.28 per cent growth predicted in May and its worst performance since 2009.

The electronics subindex sank 0.9 per cent, while the financials subindex lost 0.7 per cent.

Semiconductors shed 1.55 per cent, though flat panels managed to stay afloat, trading flat.

The Taiwan dollar firmed T$0.118 to T$32.250 per US dollar.

REUTERS

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