Taiwan stocks rise

Taiwan stocks gained close to 0.7 percent on Wednesday as steel shares rebounded from previous falls and optoelectronics jumped on news that Hon Hai had diversified into the solar market. The rebound of steel shares might be short-lived however, according to fund managers, because the outlook for the sector remains weak in the first quarter.
The main TAIEX share index rose 0.65 percent, or 58.51 points at 9,049.90, after opening up 0.21 percent. Financial shares were flat while electronics shares were up 0.93 percent.