Taiwan: Stocks down 2% on profit taking, global uncertainties

[TAIPEI] Taiwan stocks were down sharply by midday on Monday, tracking regional stocks lower on global uncertainties.

By 0425 GMT, the main Taiex index fell 2 per cent, to 8,537.61 points, after closing up 0.4 per cent at the last session of trade on Wednesday.

Taiwan's financial markets were shut on Thursday and Friday for the Dragon Boat Festival.

The downward pressure came after five sessions of gains to highs not seen in two-and-a-half months last week.

The electronics subindex sank 2.2 per cent, while the financials subindex lost 1.8 per cent.

Among actively traded shares, big-cap contract chipmaker TSMC was down 2.1 per cent and electronics manufacturer Hon Hai was off 2.8 per cent.

The Taiwan dollar softened T$0.193 to T$32.418 per US dollar.

REUTERS