Taiwan: Stocks rise on technical buying; transport shares up

[TAIPEI] Taiwan stocks rose on Tuesday on technical buying and helped by gains in transport shares on the back of lower oil prices.

The main Taiex index was up 0.5 per cent at 9,742.96 as of 0144 GMT, after closing 0.7 per cent higher in the previous session.

The index has remained rangebound between 9,600 and 9,800 in the past month.

The electronics subindex rose 0.5 per cent, while the financials subindex gained 0.1 per cent.

The transport subindex was up 0.5 per cent after global oil prices touched a 3-1/2-month low in the previous session as concerns about rising US production offset optimism about supply cuts by the Organization of Petroleum Exporting Countries.

EVA Airways was 2.2 per cent higher, while China Airlines was 1.9 per cent ahead.

The Taiwan dollar softened NT$0.034 to NT$30.950 per US dollar.

REUTERS