January 10, 2017 / 2:35 AM / 10 months ago

Taiwan stocks down; strong Dec exports data caps losses

TAIPEI, Jan 10 (Reuters) - Taiwan stocks fell on Tuesday as
traders exercised caution tracking shaky overseas markets, but
losses were short-lived on buying after data showed December
exports at a four-year high.  
    As of 0210 GMT, the main TAIEX index was down 0.1
percent at 9,335.79, after closing down 0.3 percent in the
previous session.
    The electronics subindex climbed as much as 0.3
percent, while the financials subindex dropped up to 0.6
    Government issued data on Monday that showed Taiwan's
exports in December had bounced to their highest in four years,
fuelling hopes that global demand for technology goods will keep
the island's exports strong through the first quarter even as
2016 shipments contracted for the second year with worries about
rising global trade protectionism ahead. 
    After the market closes, TSMC is scheduled to
report its December sales. The world's largest contract
chipmaker in October had raised its guidance for 2016 revenue to
grow between 11 percent and 12 percent, from a previous estimate
of 5 percent-10 percent. 
    TSMC shares gained as much as 0.8 percent. 
    The Taiwan dollar firmed T$0.042 to T$32.064 per
U.S. dollar.     

 (Reporting by J.R. Wu; Editing by Sherry Jacob-Phillips)

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