TAIPEI: Taiwan stocks extended their decline on Wednesday, with oil counters, computer makers and financials leading the way on increasing margin calls as investors grew weary of the continued downtrend.
"Investors are disappointed about the lack of stimulus from the government. That's why banks are falling hard today even though more positive cross-strait measures are expected from Chinese regulators," said Masterlink Investment Advisory Vice-President Tom Tang.
By 0220 GMT, the main TAIEX index was down 1.43 percent at 6,900.07, after opening down 0.46 percent.
The financials sub-index shed 1.98 percent. Later on Wednesday, China's banking regulator is expected to announce a speeding up of the review process for Taiwanese banks setting up second branches in China and engaging in yuan-denominated business, according to newspapers.
Oil counters tumbled 3.45 percent, while computer makers were off 1.94 percent, with Quanta Computer Inc dropping 4.3 percent and Asustek Computer Inc losing 2.9 percent.
LCD panel makers were also among the biggest laggards, dropping 2.2 percent. Chimei Innolux Corp plunged 6.9 percent and AU Optronics Corp dropped 6.6 percent.
Taiwan government officials said the two LCD rivals were open to discussions about cooperation in capacity, technology and patents.
Electronics shares slipped 1.1 percent. Apple Inc suppliers were up, however, after a report that the California-based company had shipped the first batch of 3 million iPad 3s recently, ready for launch next March.
Touch panel suppliers TPK Holding Co Ltd rose 1 percent and Wintek Corp gained 1.1 percent. Camera module maker Largan Precision Co Ltd firmed 1.4 percent.
The Taiwan dollar fell 0.19 percent to T$30.365.
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