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Taiwan stocks extend losses on yuan jitters; financials, tech down
August 12, 2015 / 1:20 AM / 2 years ago

Taiwan stocks extend losses on yuan jitters; financials, tech down

TAIPEI, Aug 12 (Reuters) - Taiwan stocks fell for a second day on Wednesday as China’s shock devaluation of the yuan rattled global markets.

Financial firms such as Cathay Financial Holdings were among the major decliners.

As of 0905 GMT, the main TAIEX index fell 0.8 percent to 8,328.12 points, after closing at 8,394.14 points in the previous session.

The financial sub-index dropped 2 percent, with Cathay Financial, Taiwan’s biggest financial holding firm, shedding 3.3 percent.

The electronics sub-index was off 1 percent.

The Taiwan dollar firmed T$0.071 to T$32.009 per U.S. dollar, stabilising from a five-year closing low in the previous session. (Reporting by Faith Hung; Editing by Kim Coghill)

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