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Taiwan stocks rise tracking regional shares as Fed maintains outlook
March 16, 2017 / 2:55 AM / 5 months ago

Taiwan stocks rise tracking regional shares as Fed maintains outlook

    TAIPEI, March 16 (Reuters) - Taiwan stocks rose on Thursday,
largely tracking regional gains after the U.S. Federal Reserve
indicated it won't accelerate the pace of the rate hikes and
stuck to its outlook. 
    As the Fed raised the target overnight interest rate by 25
basis points to a range of 0.75 percent to 1 percent, Asian
investors sighed a breath of relief that the Fed stuck to its
outlook instead for two more hikes this year and three more in
2018.               
    As of 0144 GMT, the main TAIEX index         rose 0.91
percent to 9,828.79 points, after closing down 0.04 percent on
Wednesday.
    The index surpassed the 9,800 point benchmark which was the
top of its range in the past month. 
    The majority of sub-indexes rose, led by the plastics and
semiconductor indexes that gained 1.4 percent each. 
    Additionally, the electronics subindex         was up 1.07
percent, while the financial subindex         was up 0.05
percent.  
    Among actively traded shares, electronics manufacturer
Pegatron           that makes Apple Inc          products, rose
2.06 percent despite posting a lower-than-expected 2016 4Q net
profit earlier this week.             
    As the dollar lost broadly against Asian currencies, the
Taiwan dollar hit a 21-month high since late May 2015, at 30.564
per U.S. dollar, after closing at 30.840 in the last session.
                 
    The Taiwan dollar          softened a touch by midday, but
was still trading T$0.190 higher at T$30.650 to the U.S. dollar.

 (Reporting by Jess Macy Yu; Editing by Vyas Mohan)
  

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