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Taiwan: Stocks down on profit-taking; ahead of data, earnings

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[TAIPEI] Taiwan stocks fell on Monday as investors booked profits after the index rallied in the previous session, and ahead of key trade data and earnings this week.

After the market closes, Taiwan will provide its December exports figures, which are expected to show solid year-on-year growth, but likely contract for all of 2016.

As of 0321 GMT, the main Taiex index was down 0.3 per cent at 9,341.78, after closing up 0.2 per cent on Friday. In the previous session, the index finished up for a fifth straight session, at its highest closing since mid-December.

The electronics subindex sank as much as 0.3 per cent, while the financials subindex lost up to 0.2 per cent.

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Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and big-capped share, remained unchanged. It is due to issue its December sales on Tuesday and its fourth-quarter earnings on Thursday.

The Taiwan US dollar softened NT$0.089 to NT$32.082 per US dollar.

REUTERS

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