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Taiwan: Stocks drop slightly after Fed holds rates steady

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[TAIPEI] Taiwan stocks fell on Friday, slightly trailing other regional markets, after the US Federal Reserve kept its main interest rate unchanged.

As of 0138 GMT, the main TAIEX index fell 0.2 per cent, to 8,425.94, after closing at 8,445.5 in the previous session, up 1.35 per cent.

Worries over global economic growth and subdued domestic inflation prompted the Fed to hold rates steady overnight Thursday, in a move closely watched in emerging markets.

The electronics subindex sank 0.2 per cent, while the financials subindex lost 0.8 percent.

Semiconductors shed 0.27 per cent, though communications and internet firms notched a 0.42 per cent gain.

The Taiwan dollar firmed T$0.258 to T$32.404 per US dollar.

REUTERS

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