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Taiwan: Stocks fall following Fed's unwavering stance

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Taiwan stocks fell 0.7 per cent on Thursday, in line with regional and global bourses as investors digested signals from the U.S. Federal Reserve on when it would raise interest rates.

[TAIPEI] Taiwan stocks fell 0.7 per cent on Thursday, in line with regional and global bourses as investors digested signals from the U.S. Federal Reserve on when it would raise interest rates.

As of 0225 GMT, the main TAIEX index was lower 61.73 points at 9,444.19, after closing down 0.11 per cent on Wednesday.

The US central bank offered an upbeat assessment of the domestic economy but was more hawkish on interest rates than market watchers had expected.

Taiwan's main subindexes all faltered. The electronics subindex was down 0.92 per cent, led by semiconductors which dropped 1.32 per cent.

Banks and insurance holdings shed 0.53 per cent, while autos fell 1.05 per cent.

One bright spot was construction, which traded flat.

The Taiwan dollar was down T$0.153 at T$31.481 to the U.S. dollar.

REUTERS

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