Taiwan: Stocks jump on Wall St; TSMC, Ilitek rally

[TAIPEI] Taiwan stocks rose along with other Asian bourses on Thursday as a rally on Wall Street calmed jittery investors, with technology exporters such as TSMC leading the way.

As of 0137 GMT, the main TAIEX index rose 1.4 per cent to 7,826.83 points, after closing at 7,715.59 in the previous session.

The electronics subindex rose 1.9 per cent, while the financials subindex gained 0.6 per cent.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker, added 2 per cent.

Largan Precision, which supplies camera phone lenses to Apple, rallied 5 per cent.

Ilitek was 10 per cent limit up at T$48.55. Mediatek, Taiwan's biggest chip design house, said its subsidiary plans to acquire Ilitek at T$51 per share.

The Taiwan dollar firmed T$0.314 to T$32.451 per US dollar.

REUTERS