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Taiwan: Stocks hit near two-year lows on jittery overseas markets, China


[TAIPEI] Taiwan stocks fell on Wednesday, extending losses after hitting lows not seen in nearly two years amid sluggish overseas markets and worries over China.

The main TAIEX index fell 1.3 per cent to 8,074.31 as of 0211 GMT, after closing down 0.4 per cent in the previous session at a level not seen since November 2013.

The electronics subindex sank 1.3 per cent, while the financials subindex lost 2 per cent.

Among actively traded shares, heavily weighted TSMC was down 0.4 per cent and Cathay Financial was off nearly 2 per cent.

Taiwan will release export orders data for July on Thursday, likely showing a contraction for the fourth month in a row.

Big falls in China's share markets are lending fresh jitters about the stability of China's economy, a major trading partner for the island.

The Taiwan dollar firmed T$0.179 to T$32.474 per US dollar.