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Taiwan: Stocks flat on caution in overseas markets, financial shares slip

Friday, August 26, 2016 - 10:47
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[TAIPEI] Taiwan stocks were nearly unchanged on Friday in cautious trade as bellwether financial shares slipped and on weakness in overseas markets.

As of 0209 GMT, the main Taiex index was little changed at 9,113.28, after closing 1.1 per cent higher in the previous session.

The electronics subindex fell 0.2 per cent, while the financials subindex gained 0.1 per cent.

Shares in CTBC Financial were up 0.3 per cent.

CTBC said late on Thursday that it was scrapping a deal with CITIC Bank International (China) Ltd, cancelling its second deal in less than one month.

Meanwhile, shares in Mega Financial were down 0.2 per cent, resuming its slump that started late last week after closing higher for the first time in five sessions on Thursday.

The company is at the centre of a local probe after being hit with a rare fine by New York financial regulators over anti-money laundering violations.

The Taiwan dollar softened NT$0.01 to NT$31.680 per US dollar.

REUTERS