By Chinmei Sung, Bloomberg

Taiwan’s TAIEX index declined 170.29, or 3.3 percent, to 5,075.97 at the close of trade in Taipei, falling for a second day, near a five-year low on Oct. 13.

Chinatrust Financial Holding Co. lost 45 cents, or the 3.5 percent daily limit, to NT$12.5 after Citigroup Inc. cut the company’s price estimate to NT$21 from NT$28.5. China Steel Corp. declined 95 cents, or 3.4 percent, to NT$27.25. Taiwan’s largest steelmaker said it auctioned NT$9.6 billion of five-year bonds to help pay for new plants.

D-Link Corp., a maker of Internet equipment, dropped 90 cents, or the 3.5 percent daily limit to NT$25 after Citigroup cut the company’s price estimate to NT$39.8 from NT$46.5. First Financial Holding Co. lost 55 cents, or 3.3 percent, to NT$16.4 after Citigroup Inc. cut the company’s price estimate to NT$25 from NT$36.

Quanta Computer Inc. dropped NT$1.2, or 3.4 percent, to NT$34.4. The world’s largest maker of notebook computers said it plans to buy back 100 million, or 2.74 percent of its own shares, at between NT$25 and NT$55 each, from Oct. 16 to Dec. 15.