TAIPEI, June 14 (Reuters) – Taiwan stocks rose 1.2 percent to
a three-week closing high on Monday, with financials in the lead,
while chip maker TSMC (2330.TW) gained amid optimism over demand
for technology products.
Taiwan’s main TAIEX share index closed up 87.91
points at 7,387.40. The financial sub-index .TFNI gained 2.1
Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s
top contract chipmaker, rose 0.99 percent, lifting the
electronics sub-index .TELI 0.82 percent.
Some analysts said foreign investors were likely to buy more
local shares this week if U.S. stocks stabilised and sales of a
new generation of personal computers, mobile phones and other
high-tech gadgets continued to grow globally.
Foreign investors were net buyers in the past two trading
sessions. Their net selling in May had totalled T$127 billion
($3.92 billion), the highest monthly total in 2-½ years.