October 5, 2016 / 5:16 AM / a year ago

Taiwan stocks fall tracking overseas markets; financials, techs down

TAIPEI, Oct 5 (Reuters) - Taiwan stocks declined in cautious trading on Wednesday, tracking falls in some overseas markets, with financial and technology heavyweights such as Taiwan Semiconductor Manufacturing Co (TSMC) pacing the slide.

The main TAIEX index was down 0.3 percent at 9,255.96 as of 0507 GMT after closing 0.6 percent higher in the previous session.

The electronics subindex sank 0.4 percent, while the financials subindex lost 0.3 percent.

TSMC, the world’s biggest contract chip maker, was off 1.3 percent, while Cathay Financial Holding, parent of Taiwan’s biggest life insurer, dipped 0.4 percent.

The Taiwan dollar softened T$0.05 to T$31.397 per U.S. dollar.

Asian shares and gold retreated and bond yields were near two-week highs as markets were rattled by a media report flagging the possible withdrawal of the European Central Bank’s bond buying programme. (Reporting by Faith Hung; Editing by Subhranshu Sahu)

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