Taiwan stocks post worst yearly fall since 2008

Taiwan stocks ended 2011 with their worst yearly performance since 2008, dropping 21 percent, and face more downside risk ahead amid uncertainty over the health of the global economy and the outcome of Taiwan's January presidential elections. On Friday the main TAIEX index inched down 2.74 points or 0.04 percent to close at 7,072.08.
It had shed 46 percent in 2008 during the global financial crisis, but soared 78 percent the following year and rose another 9.6 percent in 2010. Banking stocks rose 0.14 percent on Friday after the central bank left interest rates on hold.