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Taiwan: Stocks flat on caution after hitting 20-month high

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[TAIPEI] Taiwan stocks traded largely flat on Tuesday, paring early gains that lifted up the index to a 20-month high, as investors exercised caution ahead of the release of the government's quarterly economic outlook on Wednesday.

The main TAIEX index was flat at 9,710.93 points, as of 0411 GMT, after closing up 0.5 per cent in the previous session.

The index neared the key 9,800 level on Tuesday after it broke over 9,700 in the previous session. It hit an intraday high of 9,760.01, highest since May 2015.

The electronics subindex rose 0.1 per cent, while the financials subindex lost 0.2 per cent.

Taiwan's statistics agency is scheduled on Wednesday to issue its latest outlook for this year's economic growth and revisions to last year's fourth quarter gross domestic product.

Preliminary data in late January showed October-December GDP grew at its best pace in nearly two years, but momentum was slowing.

The Taiwan dollar firmed NT$0.167 to NT$30.863 per US dollar.


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