Taiwan: Stocks rise, airlines sustain gains on cross-strait transit deal

[TAIPEI] Taiwan stocks rose 0.26 per cent on Tuesday, with airlines and travel agencies benefiting from a cross-strait deal on transiting passengers.

As of 0136 GMT, the main TAIEX index was up 25.96 points at 9672.02, largely in line with the mixed showing in other regional bourses, after closing flat on Monday.

Major carriers Eva Airways Corp and China Airlines Ltd sustained their gains from the previous session, rising 3.33 and 1 per cent, respectively, and boosting the overall transport subindex by 0.46 per cent.

A recently-struck deal that allows mainland Chinese passengers to transit through Taiwan was the main catalyst for the gains.

Also benefiting was travel agency Lion Travel Service Co Ltd , which surged 6.69 per cent.

The Taiwan dollar was up T$0.044 to stand at T$30.527 to the US dollar.

REUTERS