Taiwan: Stocks rise but caution expected ahead of key data

[TAIPEI] Taiwan stocks rose on Tuesday, tracking gains in overseas markets, but bargain-hunting investors may turn cautious ahead of March export orders data scheduled to be released on Wednesday.

Orders for Taiwan's exports are forecast to have slumped for the 12th month in a row in March, reinforcing a gloomy outlook for the island's economy and pointing to few signs of any pick up in overseas demand.

As of 0123 GMT, the main TAIEX index was up 0.9 per cent at 8,742.73, after closing down 0.4 per cent in the previous session.

The electronics subindex rose 1.0 per cent, while the financials subindex gained 0.4 per cent.

Shares in heavy-weight chipmaker Taiwan Semiconductor Manufacturing Co were nearly 1 per cent higher.

The Taiwan dollar firmed T$0.117 to T$32.285 per US dollar.

REUTERS