Taiwan stocks flat

Taiwan stocks were flat on Wednesday as a stronger local dollar hurt big technology exporters, while investors bought financial shares on expectations of an interest rate hike on Thursday. Taiwan's main TAIEX share index closed down 0.05 percent, or 4.41 points, at 8,866.35. Shares of top contract chipmaker TSMC dropped 0.42 percent and the heavily weighted electronics sub-index fell 1.1 percent.
The computer & peripheral sub-index fell 0.96 percent and the semiconductor sector slid 0.94 percent. On the bright side, financials jumped 3.6 percent ahead of the central bank's quarterly board meeting on Thursday. Most economists expect Taiwan's central bank to raise the discount rate by 12.5 basis points, as the central bank will be looking at the possibility of higher inflation and asset prices next year as economic growth continues apace. The auto sector rose 1.3 percent and the transport sector gained 2.6 percent. Yulon Motor shares rose 2.2 percent after a report that good car sales figures for this month.