Taiwan: Stocks down as Asia markets pull back

[TAIPEI] Taiwan stocks fell on Tuesday, dragged down by a selloff in most other Asian indexes, and as investors awaited trade data later in the week.

Taiwan's wholesale price index fell in June from a year ago, its 21st straight month of contraction, while a rise in the consumer price index, an inflation gauge, moderated in June, data showed early in the day.

As of 0411 GMT, the main TAIEX index fell 0.5 per cent to 8,719.43 points, after closing up 0.3 per cent in the previous session to a closing high not seen in more than three months.

The electronics subindex sank 0.6 per cent, while the financials subindex lost 0.1 per cent.

Taiwan's exports in June, which will be issued Friday, likely fell for the 17th month in a row, according to the median forecast of 11 analysts polled by Reuters.

The Taiwan dollar softened TW$0.016 to TW$32.224 per US dollar.

REUTERS