TAIPEI: Taiwan stocks were higher on Monday as a weekend rate cut in China sent Asian bourses up on hopes the move will bolster the flagging Chinese economy.
But the gains could be short-lived as the slowdown in China, the island’s largest trading partner and the destination for 40 per cent of its exports, may not bode well for Taiwan.
The main TAIEX index was up 0.1 per cent at 9,701.72 as of 0143 GMT, giving back opening gains of more than 1 per cent. The index had closed down 0.12 per cent on Friday.
On Friday, data showed the island’s exports in April, when factoring out Lunar New Year holiday distortion, fell the most since September 2009 on weak demand from China and Europe.
