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Taiwan: Stocks fall on global bonds selloff
[TAIPEI] Taiwan stocks fell 0.38 per cent on Wednesday, in line with other regional bourses as a selloff in sovereign bonds globally led to caution in equity markets.
As of 0203 GMT, the main TAIEX index fell 37.71 points to 9,785.73, after closing down 0.25 per cent on Tuesday.
A sudden spike in bond yields and a rally in commodities suggest a turn toward inflation globally after longstanding concerns about deflation.
Most major Taiwan subindexes fell, with transport dropping 2.67 per cent, led by leading carrier China Airlines Ltd , which slipped 5.7 per cent.
Taiwan's rubber index lost 0.93 per cent, while glass and ceramics shed 2.33 per cent.
The Taiwan dollar was up T$0.103 to stand at T$30.678 to the US dollar.