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Taiwan: Stocks follow overseas markets lower; financials down
[TAIPEI] Taiwan stocks fell on Thursday along with overseas markets as investors remained anxious ahead of US President-elect Donald Trump's inauguration on Friday.
While market participants expect the incoming US administration to embark on stimulus policies that would lift growth and inflation and keep the Fed on course for rate hikes, many investors are also concerned about the potential fallout of Trump's protectionist stance.
The main Taiex index was down 0.2 per cent at 9,322.96 as of 0308 GMT, after shedding 0.1 per cent in the previous session.
Financial stocks led the decline with CTBC Financial Holding down 1.1 per cent and Cathay Financial Holding 0.4 per cent lower. CTBC Financial and Cathay Financial are among Taiwan's top 10 financial holding companies.
The electronics subindex sank 0.1 per cent, while the financials subindex dropped 0.4 per cent.
The Taiwan dollar firmed NT$0.001 to NT$31.585 per US dollar.