Taiwan stocks fall; techs, semiconductors down

Taiwan stocks fall; techs, semiconductors down

TAIPEI - Taiwan stocks fell 0.5 per cent on Monday morning, in line with other regional bourses, as losses on Wall Street and a promise by the Taiwan parliament's speaker on a review mechanism for China trade agreements put a damper on sentiment.

As of 0142 GMT, the main TAIEX index fell 44.84 points to 8843.70, extending the previous session's 0.19 per cent fall.

On Sunday, the speaker of Taiwan's legislative body said the island would pass an oversight mechanism of trade deals with China before reviewing a current trade agreement that has sparked protests and a sit-in in parliament.

Most subindexes saw declines, with electronics and semiconductors registering 0.58 and 0.94 per cent falls, respectively.

Shares of banks and insurance firms were down 0.56 per cent, while autos fell 0.69 per cent.

Among individual stocks, Hon Hai Precision Industry Co Ltd saw a 0.12 per cent fall. On Monday local media reported that the company, the world's largest contract electronics manufacturer, was interested in buying private equity fund MBK's Taiwan cable TV unit for T$64 billion (S$2.66 billion).

The Taiwan dollar rose T$0.136 to stand at T$30.244 to the US dollar.

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