TAIPEI: 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.
