Taiwan: Stocks fall, pare early gains ahead of trade data

[TAIPEI] Taiwan stocks fell after snapping early gains on caution ahead of key trade data due after market closes on Monday.

Taiwan is due to issue its trade data for February, with exports seen tumbling for the 13th month in a row, hurting the weak trade-reliant economy.

As of 0329 GMT, the main TAIEX index fell 0.1 per cent, to 8,638.39, after closing 0.4 per cent higher in the previous session.

The electronics subindex sank 0.6 percent, while the financials subindex gained 0.3 per cent.

Shares in Hon Hai, which goes by the trade name Foxconn, were down morew than one per cent. Talks for Taiwan's Foxconn to acquire a majority stake in Japan's Sharp Corp are "on the right track", a person familiar with the matter said on Monday.

Foxconn late last month suspended the signing of a deal to take over the loss-making Japanese electronics firm, citing the emergence of new material information. The announcement came after Sharp's board voted in favor of Foxconn's offer, estimated at nearly US$6 billion.

The Taiwan dollar firmed T$0.362 to T$32.739 per US dollar.

REUTERS