February 16, 2017 / 4:23 AM / 6 months ago

Taiwan stocks down on profit-taking after five-session rally

    TAIPEI, Feb 16 (Reuters) - Taiwan stocks fell on Thursday as
investors booked profit after a five-session rally lifted the
main index to highs not seen since mid-2015.  
    The main TAIEX index         fell 0.3 percent to 9,767.98
points as of 0402 GMT. It hit 9,869.59 earlier in the session,
the highest since May 2015.
    The index, which closed up 0.8 percent Wednesday, gained
nearly 2.7 percent over the past five sessions, underpinned by
foreign-investor buying.
    The electronics subindex         sank 0.4 percent, but the
financials subindex         gained 0.2 percent. 
    Profit-taking came after the government raised its growth
outlook for the trade-dependent economy this year to a
three-year high on expectations of stronger exports.
            
    The Taiwan dollar          softened T$0.072 to T$30.837 per
U.S. dollar. However, the Taiwan dollar had earlier strengthened
to as much as T$30.660 during the session, its strongest level
against the U.S. dollar since May 2015.

 (Reporting by J.R. Wu; Editing by Amrutha Gayathri)
  

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