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Taiwan stocks fall ahead of Fed decision; financials down
December 14, 2016 / 4:54 AM / a year ago

Taiwan stocks fall ahead of Fed decision; financials down

TAIPEI, Dec 14 (Reuters) - Taiwan stocks fell on Wednesday as investors awaited the Federal Reserve’s commentary that may deliver clues on its outlook for U.S. interest rate hikes next year.

The Fed is widely expected to hike interest rates for the first time in 2016 after its two-day meeting, but the market is focused on how the central bank steers monetary policy in the wake of Donald Trump’s election win last month.

The main TAIEX index fell 0.1 percent to 9,371.98 points as of 0448 GMT, after closing at 9,382.14 in the previous session.

The electronics subindex rose 0.2 percent, while the financials subindex lost 1.1 percent.

Cathay, the parent company of Taiwan’s biggest life insurer, shed nearly 2 percent.

The Taiwan dollar firmed T$0.062 to T$31.760 per U.S. dollar. (Reporting by Faith Hung; Editing by Amrutha Gayathri)

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