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Taiwan: Stocks hit near two-month lows

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[TAIPEI] Taiwan stocks hit their lowest in almost two months on Tuesday in volatile trading, tracking declines in some other regional markets, with a recovery in some heavyweights such as TSMC limiting the falls.

The main Taiex index was down 0.14 per cent at 8934.51 at 0315 GMT. It had dipped to as low as 8,885.55 earlier in the session, an intraday level not seen since July 15.

Taiwan's market sentiment has been cautious, in part prompted by massive foreign selling. The electronics subindex sank 0.3 per cent, while the financials subindex lost 0.7 per cent.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker and the market's most heavily-weighted share, dipped nearly 1 per cent but recovered later.

The Taiwan dollar firmed NT$0.091 to NT$31.625 per US dollar.

REUTERS