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Taiwan stocks retreat from key 10,000 level
May 12, 2017 / 3:43 AM / 7 months ago

Taiwan stocks retreat from key 10,000 level

    TAIPEI, May 12 (Reuters) - Taiwan stocks crossed the key
10,000 level for a third time this week before reversing course
to trade marginally lower, with the semiconductor sector leading
the decline.  
    The main TAIEX index         was down 0.13 percent at
9,988.41 as of 0308 GMT on Friday, after rising as high as
10,008.25 earlier in the session. 
    It touched the 10,000 intraday level for the first time in
two years on Tuesday, before settling at that level on Thursday
which was the first time in 17 years. 
    The semiconductor subindex         was down 0.68 percent on
Friday, while the electronics subindex         was 0.21 percent
lower. 
    The financial subindex         slid 0.18 percent.   
    Among actively traded stocks, Hon Hai Precision Industry Co
          was down 0.48 percent after reporting its
first-quarter earnings late on Thursday.
    Hon Hai Precision Industry Co, also known as Foxconn, and a
major Apple Inc          supplier, said its net income rose 2.14
percent on year, but fell 59.04 percent on quarter. Net profit
came in at T$28.2 billion.      
    The Taiwan dollar          firmed T$0.022 to stand at
T$30.193 to the U.S. dollar.

 (Reporting by Jess Macy Yu; Editing by Subhranshu Sahu)
  

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