Stocks decline on concern of further slump in exports

Taiwan stocks fell on concern the country's electronic exports will slump further after the US Federal Reserve signaled US economic growth may keep slowing even after it trimmed interest rates for the fifth time this year.

Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電) led declines. Taiwan sends a fifth of its exports to the US.

The TWSE Index fell 76.77, or 1.5 percent, to 5,082.02, bring its three-day decline to 2.9 percent. Within the index, 266 stocks fell and 160 rose. The total value of trade was NT$35.9 billion (US$1.1 billion), the lowest this year.

TSMC fell NT$1.50, or 1.7 percent, to NT$88. The biggest made-to-order chipmaker fell after Applied Materials Inc, the biggest maker of semiconductor equipment, said fiscal second-quarter profit from operations fell and third-quarter results will miss forecasts.

Chunghwa Telecom Co Ltd. (中華電信) fell NT$1.50, or 2.2 percent, to NT$67.