Taiwan stocks tumble

Taiwan stocks posted their worst fell in more than six months on Monday, hit by a regional sell-off on fears of a global economic downturn, and by concerns about a planned capital gains tax plan. Finance minister Chang Sheng-ho told reporters on the sidelines of the legislative session that the ruling Nationalist Party will stick to its tax plan.
The main TAIEX index tumbled 2.98 percent or 211.43 points to 6,894.66, its biggest percentage slump since November, to its lowest closing level since December. Among the worst performers, electronics and banks both shed over than 3 percent. The Taiwan dollar weakened by T$0.108 to trade at T$30.039.