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Taiwan: Stocks fall after 3 days of gains; caution ahead of UK referendum

Wednesday, June 22, 2016 - 10:39
taiwan stocksphotoAFP.jpg

[TAIPEI] Taiwan stocks fell on Wednesday on profit-taking after three sessions of gains and caution ahead of Britain's EU referendum later this week.

The main Taiex index was down 0.3 per cent at 8,661.93 as of 0207 GMT, after closing 0.7 per cent higher in the previous session.

The electronics subindex fell 0.2 per cent, while the financials subindex dropped 0.6 per cent.

Among actively traded big-caps, Hon Hai Precision Industry Co Ltd, the world's largest electronics manufacturer, rose 0.1 per cent, while contract chipmaker TSMC was down 0.9 per cent.

Hon Hai, which goes by the trade name of Foxconn, is holding its annual general meeting on Wednesday, an event where founder Terry Gou directly speaks to retail investors and answers their questions.

Mr Gou said at the start of the meeting that world events would not seriously impact the firm's operations.

The Taiwan dollar firmed T$0.033 to T$32.225 per US dollar.

REUTERS