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Taiwan: Stocks rise; ETFs targeting China market jump

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[TAIPEI] Taiwan stocks rose on Wednesday along with other regional bourses, led by gains in exchange traded funds targeting Chinese markets, after China stepped up efforts to curb bets against its currency and reassure sceptical investors.

As of 0129 GMT, the main TAIEX index rose 1.1 per cent, to 7,856.84 points, with electronics shares 1.1 per cent higher and financials up 0.9 per cent.

The broader market fell on Tuesday, its sixth loss in seven sessions so far this year.

The Taiwan dollar firmed TW$0.307 to TW$33.360 per US dollar, rebounding from its weakest closing level in nearly seven years on Tuesday.

Among the most active stocks, the Fubon SSE180 Leveraged 2X Index ETF and the Yuanta Daily CSI300 BULL 2X ETF both jumped more than 4 per cent.

REUTERS