Taiwan: Stocks rise on domestic economy hopes, net foreign funds flow

[TAIPEI] Taiwan stocks were trading slightly higher on Tuesday, taking cues from overseas markets, buying by foreign investors and a solid outlook at home.

As of 0148 GMT, the main TAIEX index rose 60.97 points, or 0.65 per cent, to 9,447.96, after closing up 0.3 per cent on Monday.

Foreign investors were net buyers of shares in the previous session.

Falling oil prices support Taiwan's growth going forward and the central bank is likely to retain current domestic benchmark interest rates for longer, according to a report issued Tuesday by ANZ Research.

The electronics subindex was up 0.5 per cent and the financial subindex was 0.3 per cent higher.

Among actively traded shares, chipmaker United Microelectronics was up 1.3 per cent.

The Taiwan dollar was up T$0.189 to stand at T$31.496 to the US dollar.

REUTERS