You are here

Taiwan: Stocks edge down tracking Asia

Wednesday, March 8, 2017 - 10:29

15703802 - 14_04_2010.jpg

[TAIPEI] Taiwan stocks edged down, in line with Asia, as financials and basic materials fell and as investors weighed the increasing likelihood of a US interest rate hike next week for the second time in three months.

The main Taiex index fell 0.2 per cent to 9,715.88 points as of 0136 GMT, after closing up 0.6 per cent on Tuesday.

The electronics subindex was largely flat, while the financial subindex fell 0.1 per cent.

Silicon-wafer manufacturer Formosa Sumco Technology Corp fell 6.5 per cent, while audio component-maker Hanpin Electron Co Ltd declined 4.9 per cent.

The US Federal Reserve will hold a policy meeting on March 14-15, and markets have rapidly boosted bets of a rate hike at the meeting. Investors have also turned increasingly cautious on the outlook for pricey stock markets.

Meanwhile, the Taiwan dollar softened to NT$30.885 against the US dollar, compared with the last close of NT$30.850.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom