Taiwan stocks up

Taiwan stocks rose for a third session on Thursday, led by consumption plays on hopes of growing demand during China's long holiday next week. Market sentiment improved after recent global sell-offs, with investors shifting their focus to department stores and travel agencies before the mainland's "Golden Week" national day holiday arrives, analysts said.
The main TAIEX index ended up 0.5 percent, or 35.63 points, at 7,182.61, after slipping over 1 percent earlier in trading. Tourism and department stores were up 2.66 percent and 1.54 percent, respectively. Banking jumped 1.09 percent. The central bank is set to hold interest rates for the first time since it began tightening in June 2010, as risks to economic growth from an intensifying global slowdown outweigh concerns over inflation and domestic asset prices. Hon Hai Precision, a major supplier for Apple, rose 1.45 percent. Company Chairman Terry Gou told Reuters that the company would invest heavily in South China, though the current operating environment was very tough.