Taiwan stocks fall

Taiwan stocks ended 0.31 percent lower on Wednesday, joining regional peers amid concern that Europe's debt rescue plan may fall apart, with banks the hardest hit. The main TAIEX index ended down 23.56 points at 7,598.45, retreating from a two-month closing high in previous session.
Financial shares shed 2 percent, with Cathay down 2.26 percent. Cathay, parent of Taiwan's top insurer, unveiled on Tuesday its most ambitious plans to tap the huge Chinese market. But some bright spots included electronics and tourism, up 0.42 percent and 1.38 percent, respectively. The Taiwan dollar had weakened by T$0.053 to T$30.139 in early afternoon trading. Foreign investors were net buyers on Tuesday of T$3.208 billion.