Taiwan: Stocks rise; chips, TSMC gain

[TAIPEI] Taiwan stocks rose on Wednesday, led by chips and world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC).

As of 0207 GMT, the main TAIEX index rose 0.4 per cent, to 8,295.21, after closing at 8,259.99 in the previous session, down 0.57 per cent.

Semiconductors posted the most notable gains among major subindexes, rising 1.46 per cent and buoyed by a 1.21 per cent gain overnight in the key Philadelphia SE Semiconductor Index.

TSMC, the most heavily-weighted company in Taiwan's stock market, led gains with a 1.98 per cent rise.

This helped the broader electronics subindex add 0.8 per cent, while the financials subindex gained 0.1 per cent.

The Taiwan dollar firmed T$0.208 to T$32.578 per US dollar.

REUTERS