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Taiwan stocks follow overseas markets lower; techs, banks down
July 29, 2016 / 3:11 AM / a year ago

Taiwan stocks follow overseas markets lower; techs, banks down

TAIPEI, July 29 (Reuters) - Taiwan stocks fell on Friday as declines in other Asian markets dented investor sentiment, with technology and banks leading the fall.

Japan’s Nikkei slipped 0.4 percent and looked set for a 1.3 percent weekly drop, while China’s Shanghai Composite Index was trading 0.3 percent lower.

MSCI’s broadest index of Asia-Pacific shares outside Japan hit the highest level since Aug. 11 before pulling back to trade down 0.2 percent.

As of 0255 GMT, the main TAIEX index fell 0.6 percent, to 9,024.91, after closing at 9,076.64 in the previous session.

The electronics subindex fell 0.6 percent, while the financial subindex lost 0.7 percent.

Among the most actively traded, contract chip maker Taiwan Semiconductor Manufacturing Co (TSMC) was off nearly 1 percent. Cathay Financial Holdings dipped 1 percent.

The Taiwan dollar firmed T$0.069 to T$31.886 per U.S. dollar. (Reporting by Faith Hung; Editing by Biju Dwarakanath)

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