August 22, 2016 / 4:36 AM / a year ago

Taiwan stocks fall; Mega Financial plunges after NY branched fined by regulators

TAIPEI, Aug 22 (Reuters) - Taiwan stocks fell on Monday, weighed down by declines in Mega Financial Holding Co Ltd after its New York banking branch was fined $180 million by New York State’s financial services department for anti-money laundering violations that included lax attention to risk exposure in Panama.

The main TAIEX index was down 1.0 percent at 8,948.44 as of 0419 GMT, after closing 1.3 percent lower in the previous session.

State-run Mega Financial plunged as much as 7.4 percent in its biggest intraday percentage loss in nine years and hit its lowest since April 11, sending financials shares lower by 1.8 percent.

Electronics shares were off 0.7 percent.

The Taiwan dollar softened T$0.222 to T$31.840 per U.S. dollar. (Reporting by Faith Hung; Editing by Subhranshu Sahu)

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