Taiwan: Stocks down on weak overseas markets, local economic outlook

[TAIPEI] Taiwan stocks fell on Wednesday on downbeat sentiment in overseas markets and a gloomy economic outlook at home.

As of 0202 GMT, the main TAIEX index fell 0.1 per cent, to 8,500.44, after closing down 0.2 per cent in the previous session.

The electronics subindex fell 0.4 per cent, while the financials subindex edged up 0.3 per cent.

Taiwan's latest inflation reading issued early Wednesday showed price weakness persisting for the seventh month running, which will likely lead the government to cut its 2015 forecast for the consumer price index from its current estimated growth for 0.13 per cent.

The Taiwan dollar firmed TW$0.03 to TW$31.696 per US dollar.

REUTERS