|Published : 16 Mar 2017, 13:35:30|
Taiwan stocks rise after Fed maintains outlook
Taiwan stocks rose on Thursday, largely tracking regional gains after the US Federal Reserve indicated it won't accelerate the pace of the rate hikes and stuck to its outlook, reports Reuters.
As of 0144 GMT, the main TAIEX index rose 0.91 per cent to 9,828.79 points, after closing down 0.04 per cent on Wednesday.
The index surpassed the 9,800 point benchmark which was the top of its range in the past month.
The majority of sub-indexes rose, led by the plastics and semiconductor indexes that gained 1.4 per cent each.
Additionally, the electronics sub-index was up 1.07 per cent, while the financial sub-index was up 0.05 per cent.
Among actively traded shares, electronics manufacturer Pegatron that makes Apple Inc products, rose 2.06 per cent despite posting a lower-than-expected 2016 4Q net profit earlier this week.
As the dollar lost broadly against Asian currencies, the Taiwan dollar hit a 21-month high since late May 2015, at 30.564 per US dollar, after closing at 30.840 in the last session.
The Taiwan dollar softened a touch by midday, but was still trading T$0.190 higher at T$30.650 to the US dollar.