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Taiwan: Stocks extend losses; UMC jumps on share buyback plan

taiwan stocksphotoAFP.jpg

[TAIPEI] Taiwan stocks fell on Thursday, along with other regional bourses, dragged by shares of technology and financial heavyweights.

As of 0142 GMT, the main TAIEX index fell 0.1 per cent, to 8,128.33, after falling to a near three-month closing low of 8,135.56 in the previous session.

The electronics subindex declined 0.2 per cent, while the financials subindex was down 0.08 per cent.

Contract chip maker United Microelectronics Corp was a bright spot with a gain of 2 per cent.

UMC plans to buy back up to 200 million shares, it informed the Taiwan Stock Exchange in a statement on Wednesday.

The Taiwan dollar firmed TW$0.012 to TW$32.516 per US dollar.