Taiwan: Stocks at more than 4-month high; China-Taiwan ties eyed

[TAIPEI] Taiwan stocks rose on Friday in line with Wall Street overnight as market sentiment continued to be boosted by massive foreign buying.

The main TAIEX index rose 0.8 per cent to 8,802.54, after closing at 8,734.54 in the previous session; and is now at a more-than-four-month high.

Foreign investors' net purchase so far this month has surpassed the entire month of February.

The electronics subindex rose 0.75 per cent, while the financials subindex gained 0.52 per cent.

The Taiwan dollar gained T$0.237 to T$32.469 per US dollar.

However, analysts said the stock markets' gain probably will not sustain after Thursday's political development.

The move by China and Gambia on Thursday ended an unofficial diplomatic truce between China and Taiwan, following January's landslide election of the pro-independence party's leader Tsai Ing-wen as the self-ruled island's president.

REUTERS