Taiwan stocks rise

Taiwan shares closed up 0.7 percent on Tuesday, driven by the financials and semiconductors, but lacked momentum to break past the 9,000 barrier as cement and ceramic shares dragged on the index. "Turnover did not rise along with the index. The market may correct on any bad news," said Chu Yen-min, a senior vice president of KGI Securities.
The TAIEX index rose 62.91 points at 8,988.00, after opening down 0.39 percent. Financial shares were up 1.61 percent, while electronics shares edged up 0.55 percent. The cement and ceramic sub-index slipped 0.42 percent. The tourism sub-index reversed earlier losses to end flat. The government said Taiwan may expect 10 million tourists per year in the next five years.