Taiwan stocks fell 0.62 percent on Thursday, pulled down by Yageo Corp after regulators blocked a management buyout plan for the component maker backed by private equity fund Kohlberg Kravis Roberts & Co Market sentiment remained cautious and future direction was unclear amid concern about the eurozone's debt problems and the global economy's health.
The main TAIEX index ended down 53.76 points at 8,567.28, while Yageo was off by the daily limit of 7 percent. The tourism sub-index gained 2.6 percent, buoyed by hopes for big earnings after Taiwan and China agreed that Chinese individual tourists would be allowed to visit Taiwan from this month. Smartphone maker HTC Corp rose 1.4 percent. Best Buy said it would open stores early on Friday for the launch of HTC Evo 3D on Sprint. AU Optronics Corp, the world's No 4 LCD panel maker, dropped 3.47 percent. Taiwan's government approved the company's investment plan in China, setting the stage for the first such investment by a local company.
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