TAIPEI, March 8 Taiwan stocks edged down, in
line with Asia, as financials and basic materials fell and as
investors weighed the increasing likelihood of a U.S. interest
rate hike next week for the second time in three months.
The main TAIEX index fell 0.2 percent to 9,715.88
points as of 0136 GMT, after closing up 0.6 percent on Tuesday.
The electronics subindex was largely flat, while the
financial subindex fell 0.1 percent.
Silicon-wafer manufacturer Formosa Sumco Technology Corp
fell 6.5 percent, while audio component-maker Hanpin
Electron Co Ltd declined 4.9 percent.
The U.S. Federal Reserve will hold a policy meeting on March
14-15, and markets have rapidly boosted bets of a rate hike at
the meeting. Investors have also turned increasingly cautious on
the outlook for pricey stock markets.
Meanwhile, the Taiwan dollar softened to T$30.885
against the U.S. dollar, compared with the last close of
(Reporting by Jess Macy Yu; Editing by Amrutha Gayathri)