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Taiwan: Stocks up; regulator says better Q4 on capital inflow

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[TAIPEI] Taiwan stocks rose on Monday as foreign capitals started to return to domestic equities after four consecutive months of net outflow, according to Taiwan's financial regulator.

The Financial Supervisory Commission (FSC) said the stock market should have bottomed in August and it expected a better fourth quarter, the Commercial Times reported.

The main TAIEX index rose 0.4 per cent to 8,335.07 as of 0206 GMT, after closing up 0.1 per cent on Friday.

The electronics subindex rose 0.2 per cent, while the financials subindex climbed 0.4 per cent.

TSMC gained 0.8 per cent. Its Chairman Morris Chang told a forum on Sunday the tech industry should see a recovery in the first quarter after clearing inventory by the end of this year, Taiwan's Economic Daily reported.

Among the most active stocks were Inotera Memories, up 4.7 per cent at T$23.30.

The Taiwan dollar firmed T$0.331 to T$32.825 per US dollar.

REUTERS