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Taiwan: Stocks fall in line with overseas markets

Wednesday, May 17, 2017 - 11:22

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[TAIPEI] Taiwan stocks fell on Wednesday, in line with weakness in overseas markets on concerns over continued turmoil in US President Donald Trump's administration.

US share futures and the US dollar slipped in early Asian trade after reports that Mr Trump asked then-FBI Director James Comey to end a probe into his former security adviser.

The reports raised questions over whether obstruction of justice charges could be laid against Mr Trump, weakening confidence in the US president's ability to push through an aggressive stimulus programme that investors had been banking on since his election last November.

As of 0244 GMT, the main Taiex index was down 0.4 per cent at 9,988.98, after closing 0.1 per cent lower in the previous session.

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The electronics subindex sank 0.4 per cent, while the financials subindex lost 0.2 per cent.

Among actively traded shares, display maker Innolux was off 1.5 per cent, while financial group CTBC Financial Holding was down 0.5 per cent.

The Taiwan dollar softened NT$0.001 to NT$30.116 per US dollar.

REUTERS

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