Taiwan: Stocks down in line with regional weakness, ahead of orders data

[TAIPEI] Taiwan stocks were down Wednesday following overseas markets and ahead of orders data that may point to protracted weakness in the export-oriented economy.

As of 0252 GMT, the main TAIEX index was down 0.5 per cent at 8,291.12, after closing up 0.1 per cent on Tuesday.

The electronics subindex was down 0.6 percent.

The financial subindex was down 0.5 per cent.

Taiwan's export orders for January are seen sliding for the 10th straight month as global demand falters, a Reuters poll showed. The data is due after the market closes Wednesday.

Shares in Hon Hai Precision Industry were down 0.1 per cent as the company awaits a decision on what could be its largest foreign acquisition.

Loss-making Japanese electronics maker Sharp Corp is holding a two-day board meeting to decide if it will accept a US$5.9 billion takeover by Hon Hai.

The Taiwan dollar firmed to T$0.219 to stand at T$33.266 to the US dollar.

REUTERS