Taiwan stocks edge higher led by technology, financials shares

The electronics sub index rose 0.5 percent, while the financials sub index gained 0.7 percent. The Taiwan dollar eased T$0.003 to T$31.616 per US dollar.

By: Reuters | Taipei | Published:October 12, 2016 10:47 am

Taiwan stocks were slightly up on Wednesday, but mostly consolidating on a lack of strong leads, led by technology and financial shares. As of 0424 GMT, the main TAIEX index was up 0.3 percent at 9,244.99 points, after closing down 0.5 percent in the previous session.

The electronics subindex rose 0.5 percent, while the financials subindex gained 0.7 percent. Big-cap chipmaker TSMC was up 0.8 percent, ahead of its third-quarter earnings on Thursday, which some analysts expect will hit a record quarterly high on supply of processors and chips for Apple Inc’s latest smartphones.

Memory chipmaker Inotera’s shares were nearly 1 percent higher, after it said Micron Technology’s deal to buy full control of its Taiwanese joint venture at T$30 a share was going forward with Inotera’s last trading date and delisting to happen at the end of November. The Taiwan dollar eased T$0.003 to T$31.616 per U.S. dollar.

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