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Taiwan stocks hit nearly 2-year highs as TSMC climbs; T$ strengthens
March 21, 2017 / 2:03 AM / 6 months ago

Taiwan stocks hit nearly 2-year highs as TSMC climbs; T$ strengthens

TAIPEI, March 21 (Reuters) - 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 including Taiwan Semiconductor Manufacturing Co (TSMC).

As of 2:002:002:00 GMT, the main TAIEX index rose 0.3 percent, to 9,944.96 points, after closing at 9,912.97 points in the previous session.

It has rallied about 7 percent 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 percent.

The electronics subindex rose 0.6 percent, while the financials subindex lost 0.2 percent.

The Taiwan dollar firmed T$0.079 to T$30.448 per U.S. dollar, making it among the strongest currencies in Asia against the U.S. dollar. (Reporting by Faith Hung)

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