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Taiwan: Stocks fall as Fed hints at more hikes; tech shares down

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[TAIPEI] Taiwan stocks fell on Thursday after the Federal Reserve raised US interest rates for the first time in a year and signalled a faster pace of increases in 2017.

The main Taiex index fell 0.4 per cent to 9,333.20 points as of 0125 GMT after closing at 9,368.52 points in the previous session.

Taiwan Semiconductor Manufacturing Co (TSMC) led technology heavyweights lower and dragged down the electronics subindex by 0.5 per cent. TSMC, the world's top contract chip maker, shed 1.3 per cent.

The financials subindex gained 0.4 per cent.

The Taiwan dollar softened NT$0.095 to NT$31.898 per US dollar.

REUTERS

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