Taiwan stocks flat

Taiwan shares ended flat on Thursday, with declines in defensives such as transportation and paper makers offset by gains in banking shares. The main TAIEX index dropped 0.13 points to 6,966.35, after opening flat. The financials sub-index was the top gainer, up 1.9 percent, with Cathay Financial Holding Co Ltd climbing 4 percent.
Taiwan's government said on Tuesday that qualified Chinese banks could invest in stakes of up to 5 percent in local banks. Electronics plays slipped 0.5 percent. Nanya Technology Corp erased early gains and dropped 0.46 percent.