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Taiwan: Stocks edge up on Wall Street gains, foreign buying

Wednesday, April 26, 2017 - 11:56

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[TAIPEI] Taiwan stocks extended gains on Wednesday, a day after posting their best single-day percentage jump in nearly three weeks, while the local currency soared to its highest in over two-and-a-half years.

Retail investors were piling in on the back of recent net buying by foreign investors, while an overnight rally on Wall Street added to the optimism.

As of 0320 GMT, the main Taiex index was up 0.1 per cent at 9,846.66, after closing up 1.3 per cent in the previous session, its steepest surge since early April.

The electronics subindex climbed as much as 0.4 per cent, while the financials subindex dropped up to 0.3 per cent.

The Taiwan dollar firmed NT$0.134 to NT$30.018 per US dollar, though it appreciated as much as to NT$29.988 in morning trade.

The local dollar is at its strongest level against the greenback since September 2014.

REUTERS

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