Taiwan: Stocks down in cautious trade ahead of export orders

[TAIPEI] Taiwan stocks eased on Friday, with investors cautious ahead of likely further declines in key export orders for the trade-reliant economy.

Taiwan is due to release after the market close export orders for October, which are expected to contract for the seventh month in a row, according to a Reuters poll of economists.

By 0338 GMT, the main TAIEX index fell 0.3 per cent, to 8,453.51 points, after closing up 1.6 per cent the previous session.

The electronics subindex was flat, while the financials subindex lost 1.0 per cent.

Shares of TSMC were mostly flat to slightly weaker.

In a rare interview, the chief executives of the world's largest contract chipmaker told Reuters on Thursday that its fourth quarter guidance remained intact so far despite recent global turmoil and that it remained on track to raise capital expenditure for next year.

The Taiwan dollar firmed TW$0.31 to TW$32.550 per US dollar.

REUTERS