April 17, 2014 / 2:20 AM / 3 years ago

CORRECTED-Taiwan stocks rise; TSMC steady before Q1 results

(Corrects Sino-American Reuters Instrument Code in paragraph 6
to from )
    TAIPEI, April 17 (Reuters) - Taiwan stocks rose 0.4 percent
on Thursday morning, tracking gains on Wall Street, with tech
heavyweight TSMC steady ahead of its first-quarter
results. 
    As of 0154 GMT, the main TAIEX index had climbed to
8,960.72, after ending flat in the previous session.
    Taiwan Semiconductor Manufacturing Co (TSMC), the world's
top contract chipmaker, inched down 0.4 percent. TSMC is set to
announce quarterly earnings after market close.
    The semiconductor subindex and the broader
electronics subindex both jumped 0.7 percent.
    Banks and insurance companies gained 0.2 percent.
Taiwan's financial regulator said it would halt the review of
CTBC Financial's merger plan with Taiwan Life
Insurance. CTBC gained 0.25 percent, while Taiwan Life
Insurance plummeted 6.86 percent. 
    Sino-American Silicon Products Inc, a major
manufacturer of silicon wafers for solar energy generation,
climbed 1.94 percent after local media reported it has expressed
interested in buying solar cell maker Solartech Energy Corp
, which also gained 1.08 percent on the news.
    The Taiwan dollar was up T$0.072 to stand at
T$30.129 to the U.S. dollar.

 (Reporting by Michael Gold; Editing by Anand Basu)

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