Taiwan: Stocks fall on profit-taking, tracks overseas markets

[TAIPEI] Taiwan stocks fell on Wednesday following declines in overseas markets and on profit-taking after closing at fresh four-month highs in the previous session.

As of 0235 GMT, the main TAIEX index fell 0.7 per cent, to 8,600.69.

It closed marginally higher, or up 4.76 points, at 8,664.31 in the previous session, its highest close since early November.

Foreign investors were net buyers, purchasing shares on a daily basis since the start of March.

Gains may however be limited after Taiwan's central bank said in a report to parliament that it will be difficult for the trade-reliant island to grow significantly this year due to "downside" risks to global economic growth.

The electronics subindex sank 0.6 per cent, while the financials subindex lost 0.9 per cent.

The Taiwan dollar firmed T$0.158 to T$32.904 per US dollar.

REUTERS