Taiwan stocks higher

Taiwan stocks ended 0.38 percent higher on Wednesday, with financial shares rising close to 2 percent on positive views that banks will benefit from expected continued rises in Taiwan's interest rates. The Taiwan main index lacked momentum to break past the barrier at 9,000 points however as turnover remained low and the appreciating Taiwan dollar pressured on electronics.
"Electronics shares should be the lead in this wave of rises, but their strength is limited by a more expensive Taiwan dollar," said Chu Yen-min, a senior vice president of KGI Securities. He said the turnover might need to increase to around T$170 billion ($56.7 billion), a level seen last Wednesday when the market posted the biggest one-day fall in 2 months, for the main index to break past 9,000. The value of Taiwan stocks traded on Wednesday was T$135 billion. The TAIEX ended up 33.64 points to 8,965.00, after opening up 0.68 percent. Financial shares surged 1.85 percent, while electronics shares were flat.