Taiwan: Stocks down in cautious trade, tracking overseas markets

[TAIPEI] Taiwan stocks fell on Tuesday in line with overseas markets and amid wider investor caution in a holiday-shortened trading week.

As of 0129 GMT, the main TAIEX index fell 0.8 per cent, to 8,091.14 points, after closing up 0.1 per cent in the previous session.

The electronics subindex sank 0.9 per cent, while the financials subindex lost 1.3 per cent.

Shares in MediaTek were down 4 per cent after the Taiwanese chip design firm guided first quarter revenue lower compared to revenue from the fourth quarter of last year.

Wednesday will be the last trading day for the domestic bourse before the Lunar New Year break. The local stock market will reopen February 15.

The Taiwan dollar firmed T$0.295 to T$33.375 per US dollar.

REUTERS