Taiwan: Stocks down, but transport shares up on oil price falls

[TAIPEI] Taiwan stocks fell on Monday, with investors cautious ahead of export orders later in the day though transport shares gained on international oil prices hitting multi-year lows.

The island's export orders are likely to fall for the eighth month in a row, pointing to persistently weak global demand and coming after Taiwan's central bank unexpectedly cut interest rates last week.

As of 0218 GMT, the main TAIEX index fell 0.2 per cent, to 8,240.83 points, after closing down 0.8 per cent in the previous session.

The electronics sub-index was mostly flat, while the financials sub-index lost 0.6 per cent.

Shares in EVA Airways were up 3.7 per cent, while those in China Airlines were 3.1 per cent.

The Taiwan dollar firmed T$0.27 to T$32.847 per US dollar.

REUTERS