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Taiwan: Stocks shed more than 1%, down with regional bourses

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[TAIPEI] Taiwan stocks fell on Wednesday, shedding recent gains that took the index to more than three-month highs as regional markets also declined.

As of 0310 GMT, the main TAIEX index fell 1.5 per cent, to 8,589.88 points, after closing down 0.5 per cent in the previous session, which snapped a five-session winning streak.

The losses were broad based as all major sub-sectors were down.

The electronics subindex sank 1.5 per cent, while the financials subindex lost 1.4 per cent. The transport subindex was down 1.5 per cent and the plastics subindex dropped 2.5 per cent.

Index heavyweight contract chipmaker TSMC was down 2.1 per cent.

The Taiwan dollar softened TW$0.103 to TW$32.385 per US dollar.

REUTERS