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Taiwan: Stocks fall on Wall St, tech exporters down

Taiwan stocks.jpg

[TAIPEI] Taiwan stocks skidded on Friday as a downturn on Wall Street damped market sentiment, with losses led by tech exporters such as Hon Hai Precision and Largan Precision.

As of 0136 GMT, the main TAIEX index was off 0.9 per cent at 8,378.85 points, after closing at 8,456.06 points in the previous session.

The electronics subindex sank 0.8 per cent, while the financials subindex lost 0.9 per cent.

Hon Hai, the world's top electronics components maker, slipped 0.8 per cent. Largan, a camera lenses supplier of Apple's latest iPhones, shed 3 per cent.

Faltering demand from China and other key global markets have hit Taiwan's export-driven economy. Taiwan's exports in November were expected to have contracted for a 10th consecutive month, according to a Reuters poll.

The Taiwan dollar firmed T$0.216 to T$32.719 per US dollar.