1. Taiwan stocks down on poor GDP growth reading

Taiwan stocks down on poor GDP growth reading

Taiwan stocks fell on Friday after the government gave a dismal early reading of second-quarter GDP growth, sharply lower than forecast.

By: | Published: July 31, 2015 8:56 AM

Taiwan stocks fell on Friday after the government gave a dismal early reading of second-quarter GDP growth, sharply lower than forecast.

Officials said Friday morning that the island’s GDP grew only 0.64 percent in the second quarter, far below expectations of a 2.67 percent boost.

As of 0151 GMT, the main TAIEX index fell 0.6 percent, to 8,600.38, below other regional bourses, after closing at 8,651.49 in the previous session, up 1 percent.

The electronics subindex sank 0.3 percent, while the financials subindex lost 0.9 percent.

Oil, gas and electric shares dropped 1.52 percent, while glass and ceramics shed 1.2 percent.

The Taiwan dollar firmed T$0.052 to T$31.549 per U.S. dollar.

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