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Taiwan: Stocks down after Sept export slump

Thursday, October 8, 2015 - 10:22
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Taiwan stocks fell on Thursday after the trade-reliant island reported a worse-than-expected fall in September shipments, and effectively wrote off any chances of a global export recovery this year.

[TAIPEI] Taiwan stocks fell on Thursday after the trade-reliant island reported a worse-than-expected fall in September shipments, and effectively wrote off any chances of a global export recovery this year.

Weakness was seen in all of Taiwan's major export markets, reinforcing views that the economy likely shrank in the third quarter.

As of 0205 GMT, the main TAIEX index was down 0.4 per cent at 8,461.59 points, after closing up 0.1 per cent in the previous session.

The financials subindex lost 0.5 per cent, while the electronics subindex rose 0.1 per cent.

Chip players were the top gainers, up 0.7 per cent, even though Taiwan's finance ministry said on Wednesday an expected recovery for the semiconductor industry will be delayed into early 2016 from the end of this year.

The Taiwan dollar firmed T$0.203 to T$32.669 per US dollar.

Taiwan markets will be closed on Friday due to National Day long weekend.

REUTERS