Taiwan shares tumble due to global geopolitical risks

Focus Taiwan
Date: 2017/04/19
By: Evelyn Kao

Taipei, April 19 (CNA) Shares in Taiwan on Wednesday fell below their quarterly moving average of 9,704 points to their lowest close since March 10 as investors reacted nervously to the call for general elections in Britain on June 8, dealers said.

The announcement by Prime Minister Theresa May to hold an early election to prevent “political game-playing” ahead of Brexit and give Britain the “strong and stable leadership” needed to deliver Brexit sent European and U.S. stocks lower, and Asia reacted the same way.

Taiwan shares closed down 106.62 points, or 1.09 percent, at 9,639.94, after moving between 9,725.39 and 9,631.64 on turnover of NT$87.38 billion (US$2.87 billion).

An increasingly uncertain international situation and heavy foreign exchange losses incurred by listed companies in the first quarter led all major stock categories to lose ground during the session Wednesday.    [FULL  STORY]

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