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Taiwan: Stocks rise; industrials, electronics up

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[TAIPEI] Taiwan stocks rose on Tuesday buoyed by industrial and electronic shares, while Asian shares traded flat tracking overnight Wall Street losses.

A lack of detail on US President Donald Trump's proposals, his isolationist stance and setbacks in filling his Cabinet have caused some investors to question whether the post-election rally has run its course as stock valuations become stretched.

As of 0308 GMT, the main Taiex index was up 0.4 per cent at 9721.68. It closed up 0.36 per cent in the previous session.

The electronics subindex climbed as much as 0.5 per cent, while the financial subindex was flat.

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Vehicle parts manufacturer Right Way Industrial Co Ltd jumped as much as 10 per cent, while Jye Tai Precision Industrial Co Ltd, an electrical components and equipment manufacturer, surged as much as 9.9 per cent.

In terms of currencies, the euro slid on fears that an anti-European Union candidate may be elected France's next president after a former French Prime Minister ruled out an election run.

In Japan, the Nikkei in Japan dropped on demand for safe-haven yen.

The Taiwan dollar was down NT$0.010 to stand at NT$30.972 to the US dollar.

REUTERS

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