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Taiwan stocks fall as cbank holds rate, track overseas markets
September 30, 2016 / 3:06 AM / a year ago

Taiwan stocks fall as cbank holds rate, track overseas markets

TAIPEI, Sept 30 (Reuters) - Taiwan stocks fell on Friday in line with weakness in overseas markets and after the island’s central bank stood pat on interest rates, as expected.

The central bank left the discount rate unchanged after its quarterly meeting on Thursday, saying it has done all it can to support the trade-dependent economy and called for more structural policies to keep growth on track.

As of 0300 GMT, the main TAIEX index fell 0.7 percent, to 9,207.15 points, after closing up 0.8 percent in the previous session.

The electronics subindex sank 0.6 percent, while the financials subindex lost 1.1 percent.

Among actively traded counters, big-cap chipmaker TSMC was down 0.5 percent, while electronics maker Hon Hai Precision retreated 0.9 percent.

The Taiwan dollar softened T$0.018 to T$31.374 per U.S. dollar. (Reporting by J.R. Wu; Editing by Biju Dwarakanath)

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