March 1, 2017 / 4:43 AM / 5 months ago

Taiwan stocks fall as Trump focuses on tax, immigration reforms

2 Min Read

    TAIPEI, March 1 (Reuters) - Taiwan stocks fell on Wednesday,
erasing earlier gains, as U.S. President Donald Trump emphasized
his desire to focus on problems at home by boosting the U.S.
economy with tax and immigration reforms.
    Taiwan is a trade-dependent nation and U.S. policies aimed
at bringing manufacturing back to the world's biggest economy
could leave the island's economy vulnerable, analysts said.
    Growth in Taiwan's February factory activity dipped to a
4-month low, according to Taiwan PMI data released on Wednesday.
                
    The main TAIEX index         fell 0.6 percent to 9,691.12
points as of 0254 GMT,  after closing down 0.2 percent on
Friday. 
    Taiwan stock and financial markets were closed on Monday and
Tuesday for a public holiday. 
    The electronics subindex         was down 0.8 percent, while
the financial subindex         fell 0.3 percent.   
    Among actively traded shares, Taishin Financial Holding Co
          was down 0.8 percent.  
    The Taiwan dollar          softened by T$0.038 to T$30.688
to the U.S. dollar, in line with other Asian currencies. 
             

 (Reporting by Jess Macy Yu; Editing by Amrutha Gayathri)
  

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