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Taiwan: Stocks rise for 4th day, heavyweights gain; Sinopac down

Thursday, May 25, 2017 - 12:59

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[TAIPEI] Taiwan stocks rose for a fourth session on Thursday as investor sentiment was bolstered by gains in overseas markets, led by tech heavyweights such as TSMC and Hon Hai Precision Industry.

As of 0237 GMT, the main TAIEX index rose 0.5 per cent to 10,094.68 points, on track for its fourth winning session in a row.

The main index closed above the 10,000-point milestone at a 17-year-high earlier this month, partly because of foreign buying into heavyweights.

The electronics subindex rose 0.6 per cent, while the financials subindex gained 0.2 per cent.

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Taiwan Semiconductor Manufacturing Co (TSMC), the world's biggest contract chip maker, added 0.5 per cent. Hon Hai, a key supplier of Apple Inc, jumped 1 per cent.

Sinopac Financial Holdings, a mid-sized financial holding firm, fell 0.2 per cent. The company said its chief financial officer and some other top executives have resigned amid a string of scandals that involved an inappropriate loan by an overseas unit.

The Taiwan dollar firmed NT$0.096 to NT$30.087 per US dollar.

REUTERS

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