Business News
Taiwan stocks down 3.21 per cent on Dubai woes
Nov 27, 2009, 6:08 GMT
Taipei - Taiwan stocks fell more than three per cent Friday on investors concern over the woes of Dubai World, a government-run conglomerate in the Gulf emirate.
The TAIEX index closed at 7,490.91, down 248.25 points, or 3.21 per cent.
'The fall was led by financial shares which plunged 4.6 per cent,' Chiu Hsin-lin, executive vice president of Industry Bank of Taiwan Securities, said.
The other factor causing the TAIEX's plunge was the Shanghai Stock Exchange's composite index which dropped 6 per cent in the past week, he added.
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