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Taiwan: Stocks fall before government revises 2016 GDP forecast

Friday, August 19, 2016 - 13:19
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[TAIPEI] Taiwan stocks fell along with some other Asian markets on Friday, with market sentiment remaining cautious before the government revises its 2016 GDP forecast later in the day.

As of 0423 GMT, the main TAIEX index fell 0.7 per cent to 9,063.03, after closing at 9,122.5 in the previous session.

The electronics subindex sank 0.4 per cent, while the financials subindex lost 1.1 per cent.

Among the most actively traded, Taiwan Semiconductor Manufacturing (TSMC), the world's top contract chip maker, shed almost 1 per cent.

The Taiwan dollar softened TW$0.22 to TW$31.630 per US dollar.

The government had cut the GDP forecast three times before - in May, February and November - amid weak demand from China and other global markets.

REUTERS