Financial shares drag on Taiwan stocks

Posted by 7Star Saturday, March 21, 2009

Taiwan stocks closed 1.48 percent lower on Friday, dragged down by financial shares such as Cathay Financial on concerns they could be hurt if parliament sharply lowered maximum interest rates on credit cards. The main TAIEX share index closed 74.31 points lower at 4,961.62, further retreating from the five-month intraday high hit on Thursday.

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