Taiwan: Stocks up on banks, techs; foreigners remain net sellers

[TAIPEI] Taiwan stocks rose 0.3 per cent along with some other regional bourses on Friday, led by banking and tech heavyweights, but the gains may be short-lived as foreign investors remain net sellers.

About one hour into trade, the main TAIEX index climbed to 9,328.00, with banks and techs rising 0.9 per cent and 0.4 per cent, respectively.

Among the most actively traded, AU Optronics Corp, the world's No.4 flat-panel marker, gained 0.3 per cent.

CTBC Financial Holding Co Ltd, which recently announced a few mergers to acquire rivals in China and Taiwan, rose 1.5 per cent.

The main index has remained within a tight range after hitting its lowest closer in nearly five months earlier this week.

Foreign investors, which account for about one-third of total trading, have been net sellers of Taiwan stocks in every session so far this month.

The Taiwan dollar was up 0.844 per cent to stand at T$30.899 to the US dollar.

REUTERS