Taiwan: Stocks fall on weak exports data, sluggish overseas markets

[TAIPEI] Taiwan stocks fell on Tuesday following losses in overseas markets and after weak exports data dented hopes the trade-reliant economy can recover in the final months of 2015.

Taiwan's exports in November fell at their fastest pace since the global financial crisis, figures issued after market hours on Monday showed, denting hopes for growth in the last quarter of this year after sinking into recession in July-September.

The main TAIEX index was down 0.6 per cent at 8,404.39 as of 0144 GMT, after closing up 0.7 per cent in the previous session.

The electronics subindex sank 0.6 per cent, while the financials subindex lost 0.5 per cent.

Shares of Taiwan Semiconductor Manufacturing Co Ltd were flat, after the world's largest contract chipmaker said on Monday that it had decided to go forward on building a new China plant in an investment worth US$3 billion to capture growth in a key market.

The Taiwan dollar firmed TW$0.14 to TW$32.796 per US dollar.

REUTERS