Taiwan: Stocks fall tracking overseas markets

[TAIPEI] Taiwan stocks fell on Thursday tracking losses in overseas markets and ahead of the island's last rate review for the year in which the central bank is expected to keep the key policy rate unchanged, but would provide its outlook for 2017.

The main Taiex index fell 0.6 per cent to 9,152.88 points as of 0226 GMT, after closing down 0.4 per cent in the previous session. The index has closed lower in five out of the past six sessions.

The electronics subindex sank 0.3 per cent, while the financials subindex lost 1.3 per cent.

Among bellwether stocks, contract chipmaker TSMC was down 0.3 per cent and electronics manufacturer Hon Hai Precision Industry Co Ltd was off 0.2 per cent.

The rate at which the central bank lends to financial institutions mainly for short-term purposes is expected to stay unchanged at 1.375 per cent, according to a Reuters poll of economists. The decision is due after 0830 GMT.

The Taiwan dollar firmed NT$0.005 to NT$32.015 per US dollar.

REUTERS