Taiwan: Stocks dip; ETFs targeting China market rally

[TAIPEI] Taiwan stocks fell slightly on Monday as investors stayed cautious following a recent rally, but some ETF (exchange-traded funds) targeting Chinese stocks surged, tracking gains in the China market.

As of 0203 GMT, the main Taiex index fell 0.1 per cent, to 9,139.26 points, after closing at 9,150.39 points in the previous session.

Taiwan's market recently touched a more than one-year high, in part prompted by massive foreign buying.

The electronics subindex rose 0.3 per cent, while the financials subindex lost 1.0 per cent.

However, some ETFs targeting China market rallied. Fubon SSE 180 Leveraged 2X Index ETF and Yuanta Daily CSI 300 Bull 2X ETF both jumped around 6 per cent.

The Shanghai Composite Index was up 1.1 per cent.

The Taiwan dollar softened NT$0.032 to NT$31.435 per US dollar.

REUTERS