Taiwan: Stocks hit near three-week high; tech, financials lead

[TAIPEI] Taiwan stocks rose to a near three-week high on Monday as Wall Street's record-closing highs bolstered market sentiment, paced by gains in techs and financial shares.

Wall Street's three main indexes closed at record highs on Friday, helped by gains in consumer staples and technology stocks as investors hunted for bargains in a post-election rally.

As of 0319 GMT, the main Taiex index was up 0.8 per cent at 9,231.43, its highest since Nov 9.

The electronics subindex climbed as much as 0.9 per cent, while the financials subindex gained as much as 1.3 per cent.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's biggest contract chip maker, was up as much as 1.1 per cent.

TSMC and many other Taiwanese tech companies rely on the US and Chinese markets for their exports.

State-run Mega Financial Holding Co Ltd gained up to 0.65 per cent.

The Taiwan dollar firmed NT$0.13 to NT$31.812 per US dollar.

REUTERS