|Published : 21 Mar 2017, 12:28:24|
Taiwan stocks hit two-year highs
Taiwan stocks rose to a fresh near two-year high on Tuesday following news the island's export orders grew more than expected, paced by gains in tech exporters.
As of 2:002:002:00 GMT, the main TAIEX index rose 0.3 per cent, to 9,944.96 points, after closing at 9,912.97 points in the previous session.
It has rallied about 7.0 per cent so far this year to its highest in nearly two years, prompted by foreign buying on expectations that Apple Inc's new iPhone would benefit Taiwanese suppliers such as TSMC.
TSMC, the world's biggest contract chip maker, jumped 0.8 per cent.
The electronics sub-index rose 0.6 per cent, while the financials sub-index lost 0.2 per cent.
The Taiwan dollar firmed T$0.079 to T$30.448 per US dollar, making it among the strongest currencies in Asia against the US dollar, according to Reuters.