March 29, 2017 / 2:19 AM / 4 months ago

CORRECTED-Taiwan stocks slightly down; Taiwan dollar hovers near 29-month high

2 Min Read

 (Corrects headline to "high" not "low")
    TAIPEI, March 29 (Reuters) - Taiwan stocks were down on
Wednesday, erasing early gains as the Taiwan dollar hovered near
its strongest level in over two years. 
    Asian shares were mixed later in the morning while the
dollar and commodities rallied as investors shook off
disappointment about U.S. President Donald Trump's failed
healthcare bill and focused instead on a positive outlook for
global growth.              
    As of 0208 GMT, the main TAIEX index         was down 0.1
percent at 9,866.90, after closing flat on Tuesday.
    The electronics subindex         slipped as much as 0.4
percent, the semiconductor index         fell up to 0.94
percent, while the financial subindex         climbed as much as
0.35 percent. 
    Among actively traded shares, the semiconductor assembly,
packaging, and testing company Powertech Tech           slid up
to 0.6 percent. 
    The Taiwan dollar          softened a touch to stand at
T$30.185 to the U.S. dollar, versus the 29-month high of
T$30.115 hit in the previous session.  
    Analysts say the breach of the T$30.000 psych level may open
floodgates to momentum sellers.               

 (Reporting by Jess Macy Yu; Editing by Sherry Jacob-Phillips)
  

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