Taiwan: Stocks up with overseas markets; tech shares drag

[TAIPEI] Taiwan stocks rose on Tuesday boosted by a bounce in overseas markets but the gains were limited on profit-taking in key heavyweight tech stocks.

Asian shares were higher on doubts the Federal Reserve really would hike rates as soon as September as investors continued to count on more policy stimulus elsewhere in the world.

As of 0133 GMT, the main TAIEX index rose 0.1 per cent to 9,119.56, after closing down 0.2 per cent in the previous session.

The electronics subindex fell 0.1 per cent, while the financials subindex gained 0.8 per cent.

Shares in heavyweight chipmaker TSMC, which hit all-time highs earlier this month, were down 0.3 per cent.

Shares in electronics maker Hon Hai, also a heavyweight, were down 0.2 per cent on profit-taking. It closed up on Monday, rising for five of six trading sessions.

The Taiwan dollar firmed NT$0.082 to NT$31.719 per US dollar.

REUTERS