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Taiwan: Stocks slip with regional shares ahead of long weekend

Friday, February 24, 2017 - 11:55

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[TAIPEI] Taiwan stocks edged lower on Friday, tracking Asian shares, amid uncertainty over US President Donald Trump's stance on trade and economic policy as he criticized China for currency manipulation.

Mr Trump called China "grand champions" of currency manipulation on Thursday, raising doubts on trade relations between the world's two largest economies.

The main Taiex index fell 0.1 per cent to 9,759.55 points as of 0342 GMT, after closing down 0.1 per cent on Thursday.

The electronics subindex was down 0.1 per cent, while the financial subindex was largely flat.

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Among actively traded shares, Cathay Financial Holding fell 0.3 per cent.

Taiwan's financial markets will be shut on Monday and Tuesday for a public holiday. Trading will resume on March 1.

The Taiwan dollar strengthened to as much as NT$30.700, but closer to midday, it was around NT$30.716 to the US dollar, compared with the settlement of NT$30.745 in the previous session.

An analysis of Taiwan's currency may be included in a US Treasury report due in April that looks at the currency practices of major US trading partners.

REUTERS

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