Taiwan stocks close down, panel makers lead

TAIPEI: Taiwan stocks closed down 2.64 percent at their intraday low on Monday, dragged by LCD panel makers which tumbled 5.07 percent.

The main TAIEX index fell 191.14 points to 7,042.64 points, after opening down 0.93 percent.

Electronics shares shed 2.78 percent, with computer vendor Acer limit down.

The financial sub-index slipped 1.83 percent ahead of a meeting of Taiwanese and Chinese banking regulators on Tuesday.

Taiwan's top steel maker China Steel shed 2.86 percent after saying it was planning to ask suppliers to delay iron ore and coking coal deliveries.

The Taiwan dollar was flat at T$30.250.

Foreign investors were net sellers on Friday, bringing their total selling to T$32.35 billion this month.