Taiwan: Stocks rise to near 2-yr high on retail investor buying

[TAIPEI] Taiwan stocks rose on Friday to their highest in nearly two years as retail investors piled in following continued foreign investor buying.

The main Taiex index was up 0.2 per cent at 9,854.86, after rising to 9,873.08, its highest since late April 2015. It had closed one per cent higher in the previous session.

Taiwan stocks have added 1.2 per cent so far this month, heading for a fourth consecutive month of gains, as foreign investors have been net buyers in March.

The key stock index is around levels not seen since early May 2015 to late April 2015, when it rallied above the 10,000 level intraday.

The electronics subindex rose 0.3 per cent, while the financials subindex gained 0.3 per cent.

Among actively traded stocks, financial group CTBC Financial Holding was up 0.8 per cent and electronics manufacturer Hon Hai Precision was 0.2 per cent higher.

Taiwan will release its export orders data for February on Monday, which could show the fastest gain in four years, a Reuters poll showed, stoking confidence in economic recovery for the trade-reliant economy.

The Taiwan dollar firmed NT$0.012 to NT$30.645 per US dollar.

REUTERS