Taiwan stocks climb

Taiwan stocks rose 0.98 percent to a one-week closing high on Thursday, with banks in focus ahead of the central bank's rate-decision meeting later in the day. The main TAIEX index ended 78.00 points higher at 8,059.94, lifted by financials and electronics, both of which were up more than 1 percent.
Fubon Financial, parent of Taiwan's No 2 life insurance firm, advanced 0.88 percent, and Carlyle Group-controlled Ta Chong Bank slipped 0.38 percent. Fubon said it would expand its local network by acquiring a bank, putting the spotlight on Ta Chong. The Taiwan dollar firmed slightly to trade at T$29.540 to the dollar. Foreign investors were net buyers on Wednesday, bringing their total buying to T$26.3 billion this month.