Markets

Taiwan stocks close down; defensive plays weigh

Published Updated

Formosa Petrochemical Corp, however, edged up 1.43 flat even though it said it expected fourth-quarter profit to drop sharply after a fire forced it to shut down.

The main TAIEX index was down 34.59 points at 7,491.06, after opening down 0.13 percent.

The financial sub-index shed 1 percent, while electronics shares slipped 0.39 percent.

Apple Inc's major supplier Hon Hai Precision Industry Co Ltd was off 1.55 percent, even after reports that it posted forecast-matching consolidated gross margin in the third quarter.

The Taiwan dollar was down 0.12 percent at T$30.200.

Copyright Reuters, 2011