Taiwan shares tumble on pessimism over U.S.-China trade talks

Focus Taiwan
Date: 2019/10/09
By: Frances Huang

Taipei, Oct. 9 (CNA) Shares in Taiwan moved down more than 1 percent Wednesday as investors got jittery over the high-level trade talks taking place between the United States and China in the coming days, dealers said.

Investors in Taiwan reacted to a fall in U.S. markets overnight, which came after hopes for a positive outcome from the trade negotiations suffered a blow when the U.S. expanded its trade blacklist Tuesday to include some Chinese tech firms, they said.

The weighted index on the Taiwan Stock Exchange (TWSE), the Taiex, ended down 127.35 points, or 1.16 percent, at the day's low of 10,889.96, off an early high of NT$10,989.39. Turnover was NT$129 billion (US$4.18 billion).

The market opened down 0.37 percent to fall below 11,000 points after the Dow Jones Industrial Average closed down 1.19 percent and the S&P 500 index ended 1.56 percent lower overnight in reaction to the move to expand the trade blacklist, dealers said.    [FULL  STORY]