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Taiwan: Stocks rally, EVA Airways down after chairman's removal

Monday, March 14, 2016 - 10:22

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[TAIWAN] Taiwan stocks rose on Monday to their highest level since November, tracking gains on Wall Street and in other regional bourses, with technology and financial heavyweights leading the way.

The main TAIEX index rose 0.7 per cent to 8,762.50 as of 0148 GMT, a level not seen since Nov 6, 2015. It ended at 8,706.14 in the previous session.

The electronics subindex rose 0.9 per cent, while the financials subindex gained 0.8 per cent.

Bucking the trend, EVA Airways slipped nearly 2 per cent. EVA, Taiwan's second-biggest carrier and part of shipping conglomerate Evergreen Group, said late on Friday its chairman Chang Kuo-wei has been replaced following an unscheduled board meeting.

The Taiwan dollar firmed T$0.281 to T$32.669 per US dollar.

REUTERS

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