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Taiwan: Stocks slip on continued China worries; ahead of data, sales

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Taiwan stocks were slightly down on Friday and any gains will likely be limited going into the weekend and ahead of key data and company sales figures due out after the market closes.

[TAIPEI] Taiwan stocks were slightly down on Friday and any gains will likely be limited going into the weekend and ahead of key data and company sales figures due out after the market closes.

As of 0151 GMT, the main TAIEX index was down 0.2 per cent at 7,834.99, after closing down 1.7 per cent in the previous session at lows not seen in more than four months.

The electronics subindex sank 0.1 per cent, while the financials subindex gained 0.3 per cent.

Taiwan's exports in December likely fell for an 11th straight month, according to a Reuters poll. Data is expected to be released later in the day.

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Large-caps TSMC and Hon Hai Precision are also expected to report their sales figures for December later in the day. Their sales results are widely watched as the two tech giants are suppliers to Apple Inc.

Shares in Hon Hai were down 0.8 per cent, while those in TSMC were off 0.4 per cent.

The Taiwan dollar firmed TW$0.22 to TW$33.310 per US dollar in early trade. The local dollar is near its weakest levels against the US dollar in over six years.

REUTERS

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