August 25, 2016 / 2:06 AM / 3 years ago

Taiwan stocks rise on bargain hunting as financials recover

TAIPEI, Aug 25 (Reuters) - Taiwan stocks rose on Thursday on bargain hunting after recent lows, with shares in Mega Financial , the focus of a local probe by prosecutors, rising for the first time in five sessions.

As of 0153 GMT, the main TAIEX index rose 0.5 percent, to 9,060.28, after closing 0.2 percent lower in the previous session.

The electronics subindex rose 0.7 percent, while the financials subindex gained 0.9 percent.

Among active counters, Mega Financial was up over 1 percent.

After being hit by a rare fine in the U.S. for anti-money laundering violations, local prosecutors earlier this week began their own investigation on whether the financial giant broke any local criminal laws.

The Taiwan dollar firmed T$0.017 to T$31.755 per U.S. dollar. (Reporting by J.R. Wu; Editing by Biju Dwarakanath)

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