Taiwan: Stocks edge up; TSMC falls on outlook, Q1 results

[TAIPEI] Taiwan stocks edged up on Friday with most shares trading higher, but the gains could be short-lived as index heavyweight TSMC fell over 2 per cent after the chipmaker trimmed its outlook for the global smartphone market and posted below-expectation net profit for the first quarter.

As of 0200 GMT, the main TAIEX index was 0.2 per cent higher at 8,688.91, after closing 0.18 per cent up at 8,667.71 in the previous session.

The index was headed for its third straight session of gains and first weekly rise in four.

The electronics subindex sank 0.2 per cent, while the financials subindex gained 0.6 per cent.

The Taiwan dollar firmed T$0.076 to T$32.360 per US dollar.

REUTERS