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Taiwan: Stocks follow overseas markets lower; techs, banks down

Friday, July 29, 2016 - 11:25
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[TAIPEI] Taiwan stocks fell on Friday as declines in other Asian markets dented investor sentiment, with technology and banks leading the fall.

Japan's Nikkei slipped 0.4 per cent and looked set for a 1.3 per cent weekly drop, while China's Shanghai Composite Index was trading 0.3 per cent lower.

MSCI's broadest index of Asia-Pacific shares outside Japan hit the highest level since Aug 11 before pulling back to trade down 0.2 per cent.

As of 0255 GMT, the main Taiex index fell 0.6 per cent, to 9,024.91, after closing at 9,076.64 in the previous session.

The electronics subindex fell 0.6 per cent, while the financial subindex lost 0.7 per cent.

Among the most actively traded, contract chip maker Taiwan Semiconductor Manufacturing Co (TSMC) was off nearly 1 per cent. Cathay Financial Holdings dipped 1 per cent.

The Taiwan dollar firmed NT$0.069 to NT$31.886 per US dollar.

REUTERS