Taiwan: Stocks weaker ahead of orders data, cenbank rate meet

[TAIPEI] Taiwan stocks fell on Monday with market participants staying cautious ahead of export orders data due Tuesday and the quarterly rate-setting meeting by the island's central bank later this week.

As of 0215 GMT, the main Taiex index was down 0.6 per cent at 9,270.48, after settling 0.4 per cent lower on Friday. The index is likely to trade between 9,200 and 9,450 in the near term, traders said.

The electronics subindex dropped 0.7 per cent, while the financials subindex lost 0.7 per cent.

Taiwan is due to issue its November export orders on Tuesday, an indicator of actual exports 2-3 months ahead.

A Reuters poll forecast orders last month to have grown for the fourth month in a row, data that should bolster expectations for the central bank to stand pat on domestic benchmark rates when it meets for its final quarterly meeting of 2016 on Thursday.

The Taiwan dollar firmed NT$0.024 to NT$31.943 per US dollar.

REUTERS