Taiwan stocks flat

Taiwan stocks ended flat in cautious trading on Thursday, but DRAM maker Powerchip surged amid investor hopes for a cut in supplies as the industry struggled with heavy losses. The main TAIEX index closed unchanged at 7,387.81. Powerchip, Taiwan's biggest DRAM maker, shot up 6.43 percent, with electronics shares 0.67 percent higher.
Banking stocks shed 0.59 percent, while Chinatrust, Taiwan's top credit card issuer, slipped 0.59 percent. The company said it planned to team up with China Development Bank (CDB) in asset management, private equity and venture capital.