Taiwan stocks rose 1.48 percent on Tuesday, with banking counters the biggest gainers, up 3.8 percent on optimism over closer ties in the sector with China. The main TAIEX index rose 109.67 points to 7,517.08, after opening up 0.39 percent. The Commercial Times daily said the Economic affairs ministry had approved the mainland's Bank of China and Bank of Communications' applications to set up branches in Taiwan.
Electronics shares rose 1.14 percent, with Acer gaining 5.62 percent after its chairman told a newspaper he is confident the company will return to profit in the first quarter. The Taiwan dollar was up by T$0.161 to trade at T$29.625, a 4-1/2 month high. Foreign investors were net buyers on Monday, bringing their total selling to T$47.73 billion this month.
Comments
Comments are closed for this article.