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Taiwan: Stocks hit 4-month lows on foreign sell-off; Hon Hai down

Monday, November 14, 2016 - 10:27


[TAIPEI] Taiwan stocks hit a four-month low on Monday, trailing other regional bourses, amid investor concerns higher US interest rates under incoming President Donald Trump will spark capital outflows from Taiwan and the rest of Asia.

The main Taiex index fell 0.82 per cent to 8,883.93 as of 0205 GMT, its lowest intraday level since mid-July.

The Taiwan dollar softened NT$0.114 to NT$31.915 per US dollar.

The main stock index lost 3 per cent in the past three session to Friday, weighed by massive selloff by foreign investors.

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The electronics subindex sank 0.9 per cent on Monday, while the financials subindex lost 0.1 per cent.

Among the most actively traded, Hon Hai Precision Industry, the world's biggest electronics components maker, was off 0.5 per cent.

Hon Hai reported an 8.6 per cent drop in third-quarter net profit, its fourth straight quarterly fall, due to losses from Japanese electronics maker Sharp which it acquired earlier this year.

The Taiwan dollar softened NT$0.114 to NT$31.915 per US dollar.


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