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Taiwan: Stocks reach over 7-year high, T$ rises after Fed statement

[TAIPEI] Taiwan stocks rose 0.6 per cent to a more than seven-year high and the local currency gained sharply on Thursday on expectations of a later start and a slower pace for US rate rises following the Federal Reserve's policy meeting.

As of 0130 GMT, the main TAIEX index had climbed to 9,708.71 points, joining other regional bourses that rallied.

The index ended 1.2 per cent higher on Wednesday.

Heavyweights were among the biggest winners. TSMC, the world's biggest contract chip maker, rose 0.3 per cent.

Innolux and AU Optronics, the world's No. 3 and No. 4 flat panel makers, respectively, both were up about 1 per cent.

The Taiwan dollar rose 0.736 per cent to T$31.417 to the US dollar.

REUTERS

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