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Taiwan: Stocks slightly up, buying tentative on weak economic outlook

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[TAIPEI] Taiwan stocks rose on Wednesday on tentative buying, with the index hovering near a key technical level and extending gains from the last two sessions.

As of 0252 GMT, the main TAIEX index was up 0.3 per cent at 8,235.58, after closing 1.8 per cent higher in the previous session.

Traders said 8,250 was a half-year technical level that the index touched in early trade.

The electronics subindex rose 0.5 per cent, while the financials subindex lost 0.5 per cent.

However, the gains were tentative due to expectations the government's growth forecast for 2016, due after market close on Wednesday, could suggest a bumpy ride ahead for Taiwan's trade-reliant economy. Taiwan barely emerged from recession in the fourth quarter as its tech exports faltered.

The Taiwan dollar firmed T$0.183 to T$33.270 per US dollar.