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Taiwan: Stocks rise; TSMC jumps on strong July sales

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Taiwan stocks rose 1.3 per cent on Tuesday as investor sentiment was bolstered by gains on Wall Street, with TSMC leading tech heavyweights higher after the world's top contract chip maker posted solid July sales results.

[TAIPEI] Taiwan stocks rose 1.3 per cent on Tuesday as investor sentiment was bolstered by gains on Wall Street, with TSMC leading tech heavyweights higher after the world's top contract chip maker posted solid July sales results.

As of 0114 GMT, the main TAIEX index rose 1.3 per cent to 8,575.08, after closing at 8,466.84 in the previous session.

Taiwan Semiconductor Manufacturing Co (TSMC) jumped 3 per cent, lifting the electronics subindex by 2 per cent. After the market closed on Monday, it said sales in July was T$80.95 billion, compared with T$64.9 billion a year earlier.

The financials subindex rose 0.4 per cent.

The Taiwan dollar firmed T$0.19 to T$31.570 per US dollar.

REUTERS

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