Taiwan: Stocks, currency jump on Wall Street; financials up

[TAIPEI] Taiwan stocks and currency rose on Monday following gains on Wall Street and regional bourses, with financial firms such as Cathay Financial Holding leading the gainers.

As of 0226 GMT, the main Taiex index rose 0.6 per cent to 9,514.77, after closing at 9,455.56 in the previous session.

The electronics subindex rose 0.3 per cent, while the financials subindex jumped 1.5 per cent.

Cathay, parent of Taiwan's biggest life insurer, rallied nearly 3 per cent. Smaller rival Fubon Financial Holding advanced 2.5 per cent.

The Taiwan dollar firmed NT$0.165 to NT$30.885 per US dollar, hitting its strongest level in 19 months.

Asian shares edged ahead on Monday as Wall Street gathered momentum into a busy week of earnings with more than 100 major companies due to report, while the US dollar was again hobbled by a lack of progress on US fiscal stimulus.

REUTERS