Taiwan stocks down, flat panels drag

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Updated: July 29, 2015 8:53:51 AM

Taiwan stocks fell on Wednesday, pulled lower by flat panels after one of the major television and gadget screen makers issued a downbeat outlook.

Taiwan stocks fell on Wednesday, pulled lower by flat panels after one of the major television and gadget screen makers issued a downbeat outlook.

The main TAIEX index was down 0.6 percent at 8,531.84 as of 1:51 GMT, trailing regional bourses as well as Wall Street after closing up 0.3 percent in the previous session.

The electronics subindex sank 0.7 percent, pulled lower by optoelectronics in particular, which fell 2.55 percent.

The world’s No.3 and 4 flat panel makers, Innolux Corp  and AU Optronics Corp, suffered declines of 5.76 percent and 5.68 percent respectively, after the latter expressed caution about business in the second half of the year, traditionally the peak season.

The financials subindex lost 0.3 percent, while plastics dropped 1.06 percent.
The Taiwan dollar firmed T$0.128 to T$31.447 per U.S. dollar.

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