Taiwan stocks and dollar fall before local voting

　The island's dollar also dropped along with most other Asian currencies on concern U.S. jobs data later today may show employers cut more workers than some economists are anticipating. Voters in 17 of Taiwan's cities and counties will elect mayors, magistrates, city and county councilors tomorrow.

　”The market just wants to see how many seats the KMT will win,” said Yili Tang, head of the currency division at Shinkong Life Insurance Co. in Taipei. “We still have the U.S. payrolls data and the market will be calmer after the release.”

　Taiwan's Taiex index fell 33.76, or 0.4 percent, to 7,650.91 at the close of Taipei trading, snapping a four-day gain. Taiwan shares gained 2.1 percent this week, the most in four weeks.

　Epistar Corp. gained 1.4 percent to NT$105.50. The maker of light-emitting diodes paid NT$1 billion for a 50 percent stake in Nan Ya Photonics Inc., the Commercial Times reported, citing unidentified people from the company.

　Motech Industries Inc., Taiwan's biggest maker of solar cells, surged 4.5 percent to NT$129, the highest since Oct. 27, 2008, on speculation of a possible transaction with Taiwan Semiconductor Manufacturing Co.

　The Economic Daily News reported “market rumors” that Taiwan Semiconductor will buy Motech for NT$150 a share. The paper also said officials from Taiwan Semiconductor visited a Motech factory in Kunshan, China.

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