Taiwan stocks flat; LCD makers rebound

TAIPEI: Taiwan stocks opened flat on Wednesday, as a rebound in LCD makers offset losses in oil and gas counters.

The main TAIEX index was up 6.5 points at 8,790.94, after ending up 0.11 percent on Tuesday.

LCD makers rose 0.9 percent, with AU Optronics rising 0.82 percent and Chimei Innolux up 0.27 percent.

Banking shares rose 0.51 percent, among the biggest gainers. Media reports said Taiwanese banks' branches in China may start yuan business as early as the beginning of next year, one year ahead of schedule.

TSMC slipped 0.41 percent after a media report that the top chip maker might cut full-year capital expenditure by 10 percent this year. Rival UMC was down 0.35 percent.

Copyright Reuters, 2011