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Taiwan shares fall on U.S. subprime woes

Taiwan shares fall on U.S. subprime woes

Taiwan shares fell Wednesday on continued worries over a possible spillover effect from the ongoing U.S. subprime mortgage meltdown.
The Weighted Price Index of the Taiwan Stock Exchange fell 84.23 points, or 1.0 percent, to close at 8,643.32 points.
Local financial companies are suffering the most from the U.S.-related concerns, said Cecelia Lu of Taiwan International Securities,
"Taiwan's financial companies are already relatively less competitive than most foreign financial companies," she said. "So unless the uncertainties over the effects of the U.S. subprime mortgage can be eliminated, investors will be hard pressed to put money in the sector."
Wednesday, financial shares were particularly weak, with the subindex shedding 2 percent.


Updated : 2021-04-14 10:32 GMT+08:00