Taiwan stocks close 1.06% lower

Special Report:Global Financial Crisis

HONG KONG, Feb. 24 (Chinese media) -- Taiwan stocks tracked Wall Street's steep drops and fell 1.06 percent on Tuesday with quiet turnover, according to media reports reaching here Tuesday from Taipei.

The benchmark weighted index dropped 69.83 points, or 1.56 percent, to open at 4,407.95 but trimmed the losses to 47.60 points, or 1.06 percent, to close at 4,430.18 after trading between intra-day high 4,452.96 and intra-day low 4,394.76.

Market turnover went down slightly to 56.47 billion New Taiwan dollars (1.63 billion U.S. dollars) from Monday's 57.38 billion New Taiwan dollars (1.65 billion U.S. dollars).

Declining shares led advancers 1,129 to 443, with 224 stocks unchanged.