Taiwan: Stocks rally, hit over 20-month high on foreign buying

[TAIPEI] Taiwan stocks rose on Friday boosted by optimism over recent foreign investors' buying and in line with overseas markets, to their highest in more than 20 months.

As of 0154 GMT, the main Taiex index was up 0.7 per cent at 9,660.18, its highest since June 1, 2015. In the previous session, the index ended 0.5 per cent higher, to its strongest closing since early June 2015.

Foreign investors were net buyers in Taiwan stocks on Thursday. They account for about a third of all stock trading.

The electronics subindex climbed as much as 0.5 per cent, while the financials subindex gained up to 1.4 per cent.

Among actively traded financials, Shin Kong Financial Holding Co Ltd rose as much as 9.7 per cent, while Cathay Financial Holding Co Ltd advanced up to 3.6 per cent on bargain hunting after recent losses.

The Taiwan dollar softened NT$0.066 to NT$31.112 per US dollar.

REUTERS