April 25, 2017 / 2:25 AM / 3 months ago

Taiwan stocks rise, taking cues from overseas markets

2 Min Read

    TAIPEI, April 25 (Reuters) - Taiwan stocks rose on Tuesday,
mainly taking cues from overseas markets, but continued their
choppy trading as investors await fresh economic data.
    The main TAIEX index         was up 0.6 percent at 9,773.76
as of 0142 GMT, after closing almost flat in the previous
session. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
                was little changed in early trade, while the
Nasdaq         climbed 1.2 percent to a record high overnight
and the Dow        and the S&P        both gained 1.1 percent.
            
    In Taiwan, the electronics subindex         rose 0.6
percent, while the financials subindex         gained 1.0
percent. 
    Taiwan will release its preliminary gross domestic product 
data for the first quarter on Friday, which is likely to show 
sustained annual growth on the back of solid exports in the
first three months of the year.
    Industrial output, driven in large part by manufacturing of
exported goods, rose 3.22 percent in March from a year earlier,
and expanded 5.14 percent in the first quarter, data released on
Monday showed.             
    Among actively traded stocks, big-cap contract chipmaker
TSMC           rose 0.3 percent, while Asia Optical
         , which makes optical lens and digital video disk
parts, gained nearly 5 percent.
    The Taiwan dollar          firmed T$0.054 to T$30.218 per 
U.S. dollar.

 (Reporting by J.R. Wu; Editing by Subhranshu Sahu)
  

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