Taiwan: Stocks up on tentative buying after early losses; eyes on China, data

[TAIPEI] Taiwan stocks rose slightly on Tuesday, reversing early losses, but buying could be short lived with regional bourses glum and volatility seen in Chinese shares after an early rout.

Trading is likely to remain cautious ahead of key Taiwan data this week.

Taiwan's exports, a key gauge of global demand for tech gadgets worldwide, likely fell in December for an 11th straight month, according to a Reuters poll. Data is expected on Friday.

As of 0139 GMT, the main TAIEX index was up 0.3 per cent at 8,134.66, after closing down 2.7 per cent in the previous session, its worst single-day loss in more than four months.

The electronics subindex rose 0.1 per cent, while the financials subindex gained 0.2 per cent.

Shares in large-cap TSMC, the world's largest chipmaker which is due to issue its December sales figures on Friday, were off 0.7 per cent in early trade.

The Taiwan dollar firmed T$0.163 to T$33.073 per US dollar in early trade. The local dollar, which settled Monday at T$33.236, is nearing its weakest level in more than six years.

REUTERS