Taiwan: Stocks up ahead of Fed decision

[TAIPEI] Taiwan stocks rose on Thursday, firming in line with global markets and ahead of a decision by the US Federal Reserve on interest rates.

As of 0147 GMT, the main TAIEX index was up 1.5 per cent at to 8,454.25 points, after closing up 0.9 per cent on Wednesday.

Investors are divided about whether the Fed will raise US interest rates for the first time since 2006 in a long-awaited policy decision expected later in the day.

The electronics subindex rose 1.2 per cent, while the financials subindex gained 2.2 per cent.

Chip packaging firm Siliconware Precision Industries Co Ltd slipped 0.47 per cent after holding a press conference Wednesday to explain a stock swap with world's largest contract tech manufacturer Hon Hai Precision Industry Co Ltd.

The latter notched a 0.82 per cent rise.

The Taiwan dollar firmed TW$0.339 to TW$32.423 per US dollar.

REUTERS