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Taiwan: Stocks down, tracking global markets

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Taiwan stocks fell on Monday along with other regional markets as investors braced for more China and US economic data later in the week and fretted over when the Federal Reserve will begin raising interest rates.

[TAIPEI] Taiwan stocks fell on Monday along with other regional markets as investors braced for more China and US economic data later in the week and fretted over when the Federal Reserve will begin raising interest rates.

As of 0218 GMT, the main TAIEX index fell 0.3 per cent to 7,991.64 points, after closing at 8,019.18 points in the previous session, up 2.49 per cent.

Fed officials have been giving mixed signals about whether they would raise rates as early as next month, and some investors fear that solid growth in the world's No.1 economy may possibly be at threat from slowing emerging markets, most notably China, and increasingly volatile financial markets.

The electronics subindex stayed flat, while the financials subindex lost 0.9 per cent.

Plastics also faltered, down 1.72 per cent, though electrical components rose 0.41 per cent.

The Taiwan dollar firmed TW$0.32 to TW$32.452 per US dollar.

REUTERS