Taiwan stocks sag

Taiwan stocks ended down 1.28 percent on Friday, joining regional peers in declines amid doubts over whether European leaders can deliver a credible solution to the region's debt crisis. UMC, the world's No 2 contract chipmaker, slipped 2.7 percent after it reported a 22.8 percent decline in November sales. Quanta Computer Inc fell 2.92 percent after it said sales dropped 3.2 percent last month.
The main TAIEX index fell 89.60 points to 6,893.30, after opening down 1.31 percent. Glass and ceramics makers were the biggest laggards, down 4.2 percent. Financial shares lost 0.88 percent, while electronics shares were off 1.52 percent. The Taiwan dollar was slightly weaker at T$30.224. Foreign investors were net sellers on Thursday, offloading T$1.523 billion.