Taiwan: Stocks hit seven-week high; techs, banks up

[TAIPEI] Taiwan stocks rose to a near seven-week high on Tuesday, joining other bourses in gains, after Federal Reserve Chairwoman Janet Yellen said the US interest rate hikes are likely on the way but held back any reference to the timing.

As of 0406 GMT, the main TAIEX index gained 0.9 per cent to 8,672.58 points, highest since April 20.

The electronics subindex climbed 1 per cent, while the financials subindex rose 0.7 per cent.

The Taiwan dollar firmed TW$0.042 to TW$32.360 per US dollar.

REUTERS