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Taiwan: Stocks mostly flat ahead of July exports data, typhoon


[TAIPEI] Taiwan stocks were mostly flat on Friday after opening lower in cautious trade as the island braced for a typhoon going into the weekend and ahead of July exports data due later in the day.

As of 0241 GMT, the main TAIEX index was unchanged at 8,449.58 points, after closing down 1.2 per cent in the previous session.

Taiwan's export in July were expected to have fallen for the sixth month in a row, suggesting global demand remains tepid.

The electronics subindex rose 0.2 per cent, while the financials subindex was unchanged.

Shares in HTC Corp fell by its 10 percent daily limit.

The struggling Taiwanese smartphone maker said on Thursday it would stay in the red in the current quarter, although losses will narrow from second quarter's T$8 billion loss. HTC would also cut jobs to help save cost.

The Taiwan dollar firmed T$0.108 to T$31.647 per US dollar.