Taiwan: Stocks lose early gains in cautious mood

[TAIPEI] Taiwan stocks were mostly flat on Wednesday, erasing early gains on prevailing caution with overseas markets ahead of several major political and economic events later this week.

As of 0245 GMT, the main Taiex index was mostly unchanged at 10,209.52 points, after closing down 0.2 per cent in the previous session.

The index is around multi-year highs and once it gets above the 10,393 level it will be at intra-day highs not seen in 27 years.

With UK elections, a European Central Bank meeting where policymakers may take a less dovish stance, and former FBI director James Comey's Senate testimony all set for Thursday, market participants across the region are wary of taking big positions.

The electronics sub-index rose 0.1 per cent, while the financials sub-index lost 0.2 per cent.

Among actively traded shares, chipmaker Macronix was off 0.6 per cent, but display maker AU Optronics was ahead 2.5 per cent.

The Taiwan dollar firmed NT$0.002 to NT$30.091 per US dollar.

REUTERS