Taiwan: Stocks rise on gains in overseas markets, better orders data
[TAIPEI] Taiwan stocks rose on Thursday, buoyed by strength in overseas markets and better-than-expected June export orders data.
Last month orders fell 2.4 per cent from a year earlier, government data showed on Wednesday, less than a 4.75 per cent drop projected in a Reuters poll.
The main Taiex index was up 0.6 per cent at 9,060.00 as of 0229 GMT, after closing down 0.3 per cent in the previous session.
The main index has settled higher, above a one-year high, for most of the month on the back of buying from foreign investors.
The electronics subindex rose 0.8 per cent, while the financials subindex gained 0.2 per cent.
Big-capped tech shares were higher after June orders data showed the start of a seasonal uptick in demand for tech goods.
Shares in electronics maker Hon Hai Precision Industry Co Ltd were up 1.7 per cent, while contract chipmaker TSMC was 0.9 per cent higher.
The Taiwan dollar softened T$0.029 to T$32.080 per US dollar.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data