Taiwan: Stocks hit 1-yr high; currency jumps to highest since Aug 2015
[TAIPEI] Taiwan stocks rose to a one-year high on Friday as investor sentiment was bolstered by record highs on Wall Street.
As of 0214 GMT, the main Taiex index was up 0.8 per cent at 8,937.05, a level not seen since July 2015.
The electronics subindex rose 0.8 per cent, while the financials subindex gained 0.8 per cent.
Shares of Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker, traded nearly flat. The company cut its estimate for 2016 global smartphone shipments for the second time this year, as slowing demand for high-end handsets gnaws away at a major driver of tech sector growth.
The Taiwan dollar firmed T$0.133 to T$31.940 per US dollar, its strongest level since August 2015.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%