Taiwan: Stocks drop as cautious investors await export orders data

[TAIPEI] Taiwan stocks edged down a bit on Wednesday as some investors were cautious ahead of export orders data, to be issued later this week, while trying to keep recent gains that have been driven by net foreign investor purchases.

The main Taiex index fell 0.13 per cent, to 9,149.06 points, as of 0143 GMT, after closing up 0.1 per cent in the previous session.

The electronics subindex slipped 0.2 per cent, while the financials subindex lost 0.2 per cent.

Taiwan's export orders in August are expected to have risen nearly one per cent from a year earlier, its first annual expansion after 16 months of decline, a Reuters poll showed.

The data for export orders, due after the market closes on Thursday, is a leading indicator of demand for Asia's exports and hi-tech gadgets, and typically lead actual exports by two to three months.

Among the actively traded shares, display maker AU Optronics gained 3 per cent, but heavyweight electronics maker Hon Hai slid 0.6 per cent.

The Taiwan dollar firmed NT$0.045 to NT$31.322 per US dollar.

REUTERS