Published at 01:26 (GMT) 09 Dec

Chart

USD/TWD opening firm this morning, off the sharp spike into close yesterday, but still holding at the 32.30 handle with early trading seen in the 32.29-32.31 band. With risk aversion filing the market, sluggish equities and a firmer dollar means USD/TWD is likely to remain supported with a firmer push past 32.33 to bring the 32.38 level into view. Weaker Nov sales for Taiwan's UMC yesterday saw the stock fall some 1.22% at the open, weighing on the Taiex now down 0.32% in early trading. In news, China Times reporst ruling Nationalist Party (KMT) chair and president Ma Ying-jeou said the party should take responsibility for Sat's poor showing in elections which saw the party lose a county magistrate seat and overall support fade. According to Economic Daily News, Japan's Elpida said it would aggressively cooperate with Taiwanese DRAM makers to compete with bigger S Korean rivals. CR