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Taiwan stocks head for third session of falls on Fed rate hike
December 16, 2016 / 2:46 AM / 10 months ago

Taiwan stocks head for third session of falls on Fed rate hike

TAIPEI, Dec 16 (Reuters) - Taiwan stocks fell for a third straight session on Friday led by declines in technology heavyweights and as investors remained cautious after Federal Reserve increased U.S. interest rates and signalled a faster pace of hikes next year.

As of 0221 GMT, the main TAIEX index was down 0.1 percent at 9,348.66 points, after closing lower at 9,360.35 in the previous session.

The electronics subindex slipped as much as 0.3 percent, while the financials subindex gained up to 0.6 percent.

Taiwan Semiconductor Manufacturing Co (TSMC), the world’s top contract chip maker, dipped as much as 1 percent.

Cathay Financial Holding, parent company of Taiwan’s biggest life insurer, climbed as much as 1.4 percent.

The Taiwan dollar firmed T$0.011 to T$31.912 per U.S. dollar. (Reporting by Faith Hung; Editing by Sherry Jacob-Phillips)

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