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Taiwan: Stocks flat ahead of central bank rate meet; NT$ strengthens

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[TAIPEI] Taiwan stocks were mostly flat in cautious trade on Thursday ahead of the central bank's policy meeting later in the day, at which it is widely expected to hold rates steady.

As of 0131 GMT, the main Taiex index was largely unchanged at 9,906.61, after closing down at 9,922.66 in the previous session.

The electronics subindex rose 0.1 per cent, while the financials subindex remained unchanged.

Among the most actively traded, Cathay Financial Holding Co Ltd, parent company of Taiwan's biggest life insurer, climbed as much as 0.4 per cent.

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The Taiwan dollar firmed NT$0.023 to NT$30.480 per US dollar, hovering at its highest in more than two years.

Taiwan's central bank is asking a few custodian banks to stem the flow of fresh capital into its financial markets, two people with direct knowledge of the matter told Reuters on Wednesday.

The central bank issued a statement to comment on the report, saying the reported comments "do not match the facts".

The central bank is expected to hold its policy rate steady for a third straight quarter.

REUTERS

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