Taiwan: Stocks fall tracking overseas markets; financials, techs down

[TAIPEI] Taiwan stocks declined in cautious trading on Wednesday, tracking falls in some overseas markets, with financial and technology heavyweights such as Taiwan Semiconductor Manufacturing Co (TSMC) pacing the slide.

The main Taiex index was down 0.3 per cent at 9,255.96 as of 0507 GMT after closing 0.6 per cent higher in the previous session.

The electronics subindex sank 0.4 per cent, while the financials subindex lost 0.3 per cent.

TSMC, the world's biggest contract chip maker, was off 1.3 per cent, while Cathay Financial Holding, parent of Taiwan's biggest life insurer, dipped 0.4 per cent.

The Taiwan dollar softened NT$0.05 to NT$31.397 per US dollar.

Asian shares and gold retreated and bond yields were near two-week highs as markets were rattled by a media report flagging the possible withdrawal of the European Central Bank's bond buying programme.

REUTERS