Taiwan stocks fall

Taiwan stocks fell 0.42 percent on Friday as investors shunned major technology exporters including Hon Hai Precision Industry Co Ltd amid lingering fears over the impact on their profit from a stronger local currency. Taiwan's main TAIEX share index closed down 37.77 points at 8,861.10. The heavily weighted electronics sub-index fell 0.56 percent as Hon Hai slid 0.85 percent.
Chip designer MStar Semiconductor Inc surged 10 percent on its first trading day. The tourism sector jumped 0.4 percent on hopes of rising Chinese tourists to Taiwan next year amid warming trade ties across the strait. Ruentex Development Co Ltd under the Ruentex group gave up early gains to end down 1.1 percent. Taiwan conglomerate Ruentex Group has emerged as the front runner to buy AIG's Taiwan unit, sources said on Thursday, as the bailed out US insurer moves closer to wrapping up its second attempt to sell the asset.