Taiwan: Stocks mostly flat as global concerns counter upbeat data at home

[TAIPEI] Taiwan shares were mostly flat on Monday on cautious trade at the start of the week as downbeat global concerns countered confidence in the local economy.

As of 0203 GMT, the main TAIEX index was up just 9.61 points, or 0.1 per cent, at 9371.52, after closing down 0.7 per cent on Friday.

Weekend data from China, Taiwan's largest trading partner, indicated manufacturing activity last month shrank, while headline growth in the US slowed in the fourth quarter.

However, the HSBC PMI for Taiwan issued early Monday showed manufacturing activity in January rebounding. The latest data came after the government on Friday said gross domestic product last year rose the fastest in three years.

The electronics subindex was flat, while the financial subindex was up 0.1 per cent and the transport index off 2.8 per cent.

The Taiwan dollar was down T$0.087 to stand at T$31.642 to the US dollar.

REUTERS