Taiwan: Stocks inch higher; Ta Chong Bank, HTC rally
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[TAIPEI] Taiwan stocks edged up on Friday, led by strength in financial shares on positive sentiment after Yuanta Financial said it would acquire Ta Chong Bank in a deal valued at about US$1.8 billion.
As of 0145 GMT, the main TAIEX index was up 0.12 per cent, at 8,321.90, after closing at 8,311.74 in the previous session.
Ta Chong, partially owned by Carlyle Group, surged by the daily 10 per cent limit to multi-year highs, lifting the financial subindex by 1.4 per cent.
Struggling smartphone maker HTC added 1.4 per cent. HTC announced a plan to cut 15 per cent of its workforce globally and to reduce its operating expenditure by 35 per cent.
The electronics subindex fell 0.6 per cent.
The Taiwan dollar rose T$0.232 to T$32.134 per US dollar.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
