Taiwan: Stocks hit 1-yr high; currency jumps to highest since Aug 2015

[TAIPEI] Taiwan stocks rose to a one-year high on Friday as investor sentiment was bolstered by record highs on Wall Street.

As of 0214 GMT, the main Taiex index was up 0.8 per cent at 8,937.05, a level not seen since July 2015.

The electronics subindex rose 0.8 per cent, while the financials subindex gained 0.8 per cent.

Shares of Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker, traded nearly flat. The company cut its estimate for 2016 global smartphone shipments for the second time this year, as slowing demand for high-end handsets gnaws away at a major driver of tech sector growth.

The Taiwan dollar firmed T$0.133 to T$31.940 per US dollar, its strongest level since August 2015.

REUTERS