Taiwan: Stocks up slightly, boosted by plastics and food

[TAIPEI] Taiwan stocks rose on Wednesday after a dismal reading of the island's export orders was offset by strength in plastics and food.

A worse-than-expected 5.9 per cent on-year decline in May export orders was the biggest drop in over two years and cast doubts over whether global tech demand will pick up in the second half of the year.

As of 1.51 GMT, the main TAIEX index rose 0.1 per cent, to 9,401.40, after closing at 9,391.14 in the previous session, up 0.53 per cent.

Among the major gainers, plastics gained 0.71 per cent, while food saw a 0.47 per cent rise.

The financials subindex lost 0.2 per cent, while the electronics subindex rose only 0.1 per cent, held back by semiconductors, down 0.34 per cent.

The Taiwan dollar firmed TW$0.041 to TW$30.961 per US dollar.

REUTERS