Taiwan: Stocks rise as TSMC, Hon Hai jump; index on track to hit 10,000-mark

[TAIPEI] Taiwan stocks rose on Tuesday, with Taiwan Semiconductor Manufacturing Co (TSMC) leading heavyweights higher as sentiment was boosted by rising optimism over the prospects of the technology industry and easing concerns over North Korea.

As of 0122 GMT, the main Taiex index rose 0.7 per cent to 9,942.14, on track towards the 10,000-point milestone, which would be its highest intraday level in two years.

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

TSMC, the world's biggest contract chip maker, jumped 2 per cent.

Hon Hai Precision, a major supplier of Apple Inc iPhones, rose one per cent. The company is planning a "capital-intensive" investment in the United States, Chairman Terry Gou said on Friday.

The Taiwan dollar firmed NT$0.133 to NT$30.085 per US dollar.

REUTERS