Taiwan: Stocks flat; profit-taking erases early gains

[TAIPEI] Taiwan stocks were largely flat on Thursday as early gains were erased on profit-taking after a three-session winning streak.

The US Federal Reserve on Wednesday left interest rates unchanged but strongly signalled it could still tighten monetary policy by the end of this year as the labor market improved further.

As of 0230 GMT, the main Taiex index was unchanged at 9,228.15 points, after opening 0.7 per cent higher.

The electronics subindex stayed flat, while the financials subindex lost 0.2 per cent.

The cautious trading comes ahead of key export-related data.

Taiwan is due to issue export orders for August after market hours, which could show growth for the first time in 17 months, amid doubts that any demand may only be seasonal and not enough to lift the trade-oriented economy's prospects.

The Taiwan dollar firmed NT$0.06 to NT$31.370 per US dollar.

REUTERS