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Taiwan: Stocks climb to new 1-month high; chip firms rally
[TAIPEI] Taiwan stocks rose to a fresh one-month high on Friday, led by gains in Advanced Semiconductor Engineering Inc (ASE) and Siliconware Precision Industries (SPIL) on news the chip packaging and testing firms plan to form a new holding company.
As of 0312 GMT, the main TAIEX index rose 0.4 per cent, to 8,431.22 points, its highest level since late April.
The electronics subindex rose 0.5 per cent, while the financials subindex gained 0.4 per cent.
ASE surged 10 per cent, the most allowed in a session. SPIL climbed 6.1 per cent.
The Taiwan dollar firmed T$0.068 to T$32.508 per US dollar.