You are here

Taiwan: Stocks edge up; TSMC falls on outlook, Q1 results

taiwanstocks150416.jpg

[TAIPEI] Taiwan stocks edged up on Friday with most shares trading higher, but the gains could be short-lived as index heavyweight TSMC fell over 2 per cent after the chipmaker trimmed its outlook for the global smartphone market and posted below-expectation net profit for the first quarter.

As of 0200 GMT, the main TAIEX index was 0.2 per cent higher at 8,688.91, after closing 0.18 per cent up at 8,667.71 in the previous session.

The index was headed for its third straight session of gains and first weekly rise in four.

The electronics subindex sank 0.2 per cent, while the financials subindex gained 0.6 per cent.

The Taiwan dollar firmed T$0.076 to T$32.360 per US dollar.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom