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Taiwan: Stocks fall on selling in tech, financials

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[TAIPEI] Taiwan stocks fell in cautious trade on Monday, heading for their first drop in six sessions, as gains in transport shares were offset by broader selling in tech and financials.

As of 0242 GMT, the main TAIEX index was down 0.2 per cent at 8,308.40, after closing 0.1 per cent higher in the previous session, its fifth straight session of gains.

The electronics subindex sank 0.3 per cent, while the financials subindex lost 0.2 per cent.

EVA Airways Corp and China Airlines, the island's two international carriers, rose over 6 per cent and 1 per cent, respectively, on weak crude oil prices.

Shares of Hon Hai Precision Industry, which goes by the trade name Foxconn, were mostly unchanged, as investors wait to see if Sharp will later this week vote in favour of the Taiwanese electronics manufacturing giant's plan to acquire the ailing Japanese company.

The Taiwan dollar firmed T$0.314 to T$33.247 per US dollar.


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