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Taiwan stocks fall as Fed hints at more hikes; tech shares down
December 15, 2016 / 1:42 AM / 9 months ago

Taiwan stocks fall as Fed hints at more hikes; tech shares down

TAIPEI, Dec 15 (Reuters) - Taiwan stocks fell on Thursday after the Federal Reserve raised U.S. interest rates for the first time in a year and signalled a faster pace of increases in 2017.

The main TAIEX index fell 0.4 percent to 9,333.20 points as of 0125 GMT after closing at 9,368.52 points in the previous session.

Taiwan Semiconductor Manufacturing Co (TSMC) led technology heavyweights lower and dragged down the electronics subindex by 0.5 percent. TSMC, the world’s top contract chip maker, shed 1.3 percent.

The financials subindex gained 0.4 percent.

The Taiwan dollar softened T$0.095 to T$31.898 per U.S. dollar. (Reporting by Faith Hung; Editing by Amrutha Gayathri)

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