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Taiwan stocks flat after govt unveils stimulus package, cbank keeps rate steady
March 24, 2017 / 1:50 AM / 8 months ago

Taiwan stocks flat after govt unveils stimulus package, cbank keeps rate steady

TAIPEI, March 24 (Reuters) - Taiwan stocks were little changed on Friday as investors remained cautious after the government announced a stimulus package amid uncertainty from trading partners the United States and China, and the central bank left its policy rate steady as expected.

The main TAIEX index was down 0.1 percent at 9,925.43 as of 0110 GMT, after closing marginally higher in the previous session.

Some investors have been cautious about valuations as the key stock index has risen about 7 percent so far this year, hitting its highest in almost two years recently.

The electronics subindex declined 0.1 percent, while the financials subindex dropped 0.1 percent.

Among the most actively traded stocks, Taiwan Semiconductor Manufacturing Co (TSMC) was off 0.8 percent. TSMC is the world’s biggest contract chip maker and an Apple Inc supplier.

The Taiwan dollar softened T$0.01 to T$30.498 per U.S. dollar, hovering near a more than two-year high hit earlier this week. (Reporting by Faith Hung; Editing by Subhranshu Sahu)

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