Taiwan: Stocks down in line with caution overseas, ahead of data

[TAIPEI] Taiwan stocks fell on Monday due to profit-taking and weakness in overseas markets, ahead of key exports data.

The main TAIEX index fell 0.4 per cent to 8,772.11 as of 0218 GMT, after closing up 0.9 per cent Friday.

The electronics subindex sank 0.4 per cent, while the financials subindex lost 1.1 per cent.

The losses were broad-based. Large-cap tech shares TSMC and Foxconn were flat to lower, while China Development Financial was off 1.4 per cent.

Taiwan is due to release its export orders data for February after market close. The data, which is seen as a leading indicator of the island's exports and overall global demand, is expected to contract for the 11th month in a row, based on a Reuters poll.

The Taiwan dollar firmed T$0.082 to T$32.438 per US dollar.

REUTERS