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Taiwan: Stocks fall ahead of rate meeting, lack of strong overseas cues

Wednesday, December 21, 2016 - 13:06

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[TAIPEI] Taiwan stocks fell mildly on Wednesday ahead of the central bank's rate-setting meeting and with lack of strong cues from overseas markets.

The main TAIEX index fell 0.1 per cent to 9,235.49 as of 0406 GMT, after closing mostly flat in the previous session.

The electronics subindex was down 0.1 per cent, while the financials subindex lost 0.2 per cent.

The losses came despite stronger-than-expected export orders for November issued after the market closed on Tuesday, that economists said paved the way for the central bank to stand pat on benchmark rates when it meets for its final policy meeting of the year on Thursday.

Among actively traded shares, notebook maker Acer was down 0.8 per cent, after its board approved an impairment charge of about NT$6.3 billion, but said that it would not impact its operations and cash.

The Taiwan dollar softened NT$0.009 to NT$32.014 per US dollar.

REUTERS

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