July 9, 2014 / 2:20 AM / in 3 years

Techs drag Taiwan stocks lower; banks jump

1 Min Read

TAIPEI, July 9 (Reuters) - Taiwan stocks fell 0.4 percent on
Wednesday as market sentiment was under pressure following
losses on Wall Street, with recent winners such as Apple Inc
 supplier Largan Precision leading the
    However, banking stocks jumped 0.5 percent. Shares
in Fubon Financial, parent of Taiwan's No.2 insurer,
rose 2 percent after the company reported its first-half profit
topped the combined profit of the first three quarters of 2013.
Smaller rival CTBC Financial added 1.3 percent.
    At around 0200 GMT, the main TAIEX index had
declined to 9,490.91, in line with most regional bourses.
    Largan, which makes camera modules, was off 2 percent, while
iPhones assembler Hon Hai Precision slipped 0.5
percent. The overall electronics subindex was 0.5
percent lower.
    The Taiwan dollar rose 0.224 percent to stand at
T$29.903 to the U.S. dollar.

 (Reporting by Faith Hung; Editing by Anupama Dwivedi)

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