Taiwan: Stocks flat; semiconductors rise

[TAIPEI] Taiwan stocks were steady in early trading on Thursday, slightly trailing other regional bourses but kept afloat by a strong showing in the island's key semiconductor index.

As of 0130 GMT, the main TAIEX index rose 6.6 points to 9,303.13, after closing up 1.16 per cent on Wednesday.

The electronics subindex was up 0.39 per cent, boosted by semiconductors, which rose 1.27 per cent. The Philadelphia Semiconductor Index had risen 1.31 per cent overnight, providing support to Taiwan's domestic microchip industry.

Taiwan Semiconductor Manufacturing Co Ltd, the world's largest contract chip maker, rose 2.15 per cent, while major chip design firm MediaTek Inc advanced 0.5 per cent.

The financial subindex was up 0.24 per cent. Construction fell 0.69 per cent.

The Taiwan dollar was up T$2.35 to stand at T$30.924 to the US dollar.

REUTERS