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Taiwan: Stocks higher in mild rebound ahead of export orders data

[TAIPEI] Taiwan stocks rose on Monday following some turnaround in some regional bourses off early losses and ahead of data due after the market closes, which is expected to show milder, but continued growth in October export orders.

Taiwan's export orders, a leading indicator for exports 2-3 months out, likely grew for the third straight month in October, bolstered by seasonal demand for the island's technology gadgets. The data will be issued around 0800 GMT.

As of 0221 GMT, the main Taiex index rose 0.3 per cent, to 9,035.26, after closing up 0.2 per cent in the previous session.

The electronics subindex rose 0.1 per cent, while the financials subindex gained 1.1 per cent.

The Taiwan dollar firmed NT$0.088 to NT$31.922 per US dollar. It settled at NT$32.01 on Friday, its weakest close in more than three months against the US currency.

REUTERS

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