TAIEX slides amid US-China tensions

WINDOW OF OPPORTUNITY: US officials have allowed for goods in transit to be exempt from tariff increases, leaving the possibility of an agreement being signed

Taipei Times
Date: May 12, 2019
By: Staff writer, with CNA and AFP

Local shares on Friday closed slightly lower after the market reacted to the US’ increase of punitive tariffs on US$200 billion of imported Chinese goods that took effect at noon in Taipei, dealers said.

The bellwether electronics sector led the downturn, but some investors parked their funds in select old economy and financial stocks to lend some support to the broader market, they said.

The TAIEX on Friday ended down 20.68 points, or 0.19 percent, at 10,712.99, after moving between 10,669.39 and 10,834.69. Turnover was NT$124.49 billion (US$4.02 billion).

That was a drop of 3.5 percent from a close of 11,096.30 on May 3.    [FULL  STORY]

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