April 24, 2017 / 3:09 AM / 3 months ago

Taiwan stocks weak on mixed trading in tech shares, rangebound

2 Min Read

    TAIPEI, April 24 (Reuters) - Taiwan stocks fell on Monday on
mixed trading in heavyweight technology shares, giving the index
more time to consolidate in its recent range.
    The main TAIEX index         fell 0.3 percent to 9,692.95 as
of 0238 GMT, after opening higher. On Friday it closed up 0.9
percent. The index has traded above 9,600 since early February
but remained just shy of 9,980.
    The electronics subindex         sank 0.3 percent, while the
financials subindex         lost 0.1 percent. 
    Big-capped chipmaker Taiwan Semiconductor Manufacturing Co
          was off 0.5 percent, dragging down overall sentiment,
but gains in other technology stocks were limiting the losses
after the island's export orders in March recorded their eighth
consecutive month of gain.             
    Last month's orders also rose faster than expected,
boding well for Taiwan's trade-driven economy and revenue for
many companies in the global electronics supply chain.
    Among the gainers, big-capped electronics maker Hon Hai
          was up 0.1 percent, and rival Pegatron           was
0.2 percent higher.
    However, display makers Innolux           and AU Optronics
          were both down around 2 percent.
    The Taiwan dollar          firmed T$0.063 to T$30.300 per
U.S. dollar.

 (Reporting by J.R. Wu; Editing by Gopakumar Warrier)
  

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