Taipei: Stocks drop tracking Asian shares

[TAIPEI] Taiwan stocks fell on Wednesday, tracking modest losses in Asian shares, on a run of disappointing US economic data and doubts whether President Donald Trump's administration will progress with tax cuts.

As of 0120 GMT, the main Taiex index was down 0.68 per cent at 9,679.40, after closing up 0.3 per cent in the previous session.

All subindexes were down early in the day, with the electronics subindex dropping as much as 0.7 per cent, while the financial subindex slipping up to 0.6 per cent.

Among actively traded shares, Powertech Tech, a semiconductor assembly, packaging and testing company, declined as much as 1.73 per cent.

The Taiwan dollar strengthened NT$0.026 to stand at NT$30.380 to the US dollar.

REUTERS