Taiwan: Stocks extend losses on yuan jitters; financials, tech down

[TAIPEI] Taiwan stocks fell for a second day on Wednesday as China's shock devaluation of the yuan rattled global markets.

Financial firms such as Cathay Financial Holdings were among the major decliners.

As of 0905 GMT, the main TAIEX index fell 0.8 per cent to 8,328.12 points, after closing at 8,394.14 points in the previous session.

The financial sub-index dropped 2 per cent, with Cathay Financial, Taiwan's biggest financial holding firm, shedding 3.3 per cent.

The electronics sub-index was off 1 percent.

The Taiwan dollar firmed T$0.071 to T$32.009 per US dollar, stabilising from a five-year closing low in the previous session.

REUTERS