TAIPEI, July 23 (Reuters) – Taiwan stocks rose 1.24 percent
to a more than two-month closing high on Friday, as investors
chased major technology exporters including TSMC (2330.TW) and
Hon Hai (2317.TW) on strong earnings prospects for this year.
Nearly all sub-indexes rose in Taiwan after solid corporate
earnings sent Wall Street higher on Thursday, while the market
awaited the results of stress tests on European banks.
The main TAIEX share index rose 94.88 points to
7,761.22, the highest finish since May 14. The TAIEX gained 1.3
percent this week and has risen about 10 percent since the year’s
low hit in late May.
Top contract chipmaker Taiwan Semiconductor Manufacturing Co
Ltd (TSMC) rose 1.29 percent. Hon Hai Precision Industry Co
jumped 5.04 percent.