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Taiwan: Stocks rise to over 1-1/2 year high

Taiwan: Stocks rise to over 1-1/2 year high

TAIPEI: Taiwan stocks rose on Monday to a more than one-and-a-half-year high, tracking gains in overseas markets.

Asian shares ticked up, helped by renewed optimism over US President Donald Trump’s tax reform plans and his change of tack to agree to honour the “one China” policy, and generally upbeat global economic data.

As of 0326 GMT, the main Taiex index was up 0.4 per cent at 9,701.49. Earlier in the session, it had risen to a peak of 9,709.28, its highest since May 2015.

On Friday, the index closed up 0.8 per cent. The electronics subindex rose 0.6 per cent, while the financials subindex was unchanged.

Among big caps, Hon Hai Precision Industry Co Ltd, the world’s largest electronics maker, was up 0.7 per cent and TSMC, the world’s largest contract chipmaker, was 1.1 per cent higher.