Taiwan stocks hit 5 month low on rate hike

Reuters
Posted: Friday, Jun 27, 2008 at 0947 hrs IST
Updated: Friday, Jun 27, 2008 at 0947 hrs IST

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Taiwan stocks post biggest gain in 6 yrs Taiwan stocks decline on weak global cues Taiwan stocks post biggest gain in 2 wks

Taipei, June 27: : Taiwan stocks dropped 3.37 per cent to a five-month closing low on Friday, dragged lower by tech shares such as TSMC following a Wall Street slide, and after Taiwan's central bank raised interest rates on Thursday to battle inflation.

Taiwan's main TAIEX share index closed down 263.04 points to 7,548.76, its lowest close since Jan. 31, after Wall Street saw the Dow Jones plunge to its lowest since September 2006.

Turnover was active at T$122.481 billion ($4.03 billion).

Hon Hai Precision, a big exporter of electronics parts, dropped 5.63 per cent, pulling the broader electronic sub-index 3.31 per cent.

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