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Taiwan: Stocks down tracking overseas bourses, profit-taking

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[TAIPEI] Taiwan stocks fell on Tuesday taking cues from a fall in overseas markets and on profit-taking after two straight sessions of gains.

The main TAIEX index fell 1.1 per cent to 7,807.68 as of 0210 GMT, after closing up 1.8 per cent in the previous session.

The electronics subindex sank 1.0 per cent, while the financials subindex lost 1.5 per cent.

Several Apple Inc suppliers were falling ahead of the US giant's December-quarter results due on Tuesday.

Iphone assembler Pegatron was off 2.5 per cent and Hon Hai Precision was down 1.2 per cent. Casing maker Catcher Technology was down 1.3 per cent, while component maker Flexium was down 1.3 per cent.

Asian shares fell after investors used rebounds over the last two days to offload risk assets as fears of a global economic slowdown show no sign of abating.

The Taiwan dollar firmed TW$0.022 to TW$33.600 per US dollar.

REUTERS

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