December 1, 2016 / 4:10 AM / a year ago

Taiwan stocks hit three-week high; financials up

TAIPEI, Dec 1 (Reuters) - Taiwan stocks rose to a three-week high on Thursday along with other regional bourses, led by gains in financial stocks such as Cathay Financial Holdings.

As of 0347 GMT, the main TAIEX index was up 0.3 percent at 9,270.93 points, highest since Nov. 9.

The electronics subindex stayed flat, while the financials subindex gained 0.9 percent.

Cathay Financial and Fubon Financial Holdings Co Ltd , parent companies of Taiwan’s two biggest life insurers, advanced as much as 2.8 percent and 1.31 percent respectively.

ChipMOS Technologies was up 5.12 percent after opening 9 percent higher. The chip test and packaging firm said it scrapped a planned $373 million stake sale to China’s Tsinghua Unigroup due to uncertainty about Taiwanese regulatory clearance.

The Taiwan dollar softened T$0.009 to T$31.899 per U.S. dollar.

In Asian equities, Australian stocks climbed 0.8 percent and Japan’s Nikkei gained more than 2 percent on a weaker yen to hit an 11-month high. (Reporting by Faith Hung; Editing by Sherry Jacob-Phillips)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below