April 28, 2017 / 2:38 AM / 3 months ago

Taiwan stocks rise on solid Q1 GDP growth

2 Min Read

    TAIPEI, April 28 (Reuters) - Taiwan stocks rose on Friday on
data showing the export-driven economy grew for the fourth
quarter in a row, but gains were limited ahead of a long
weekend.
    Taiwan reported solid first-quarter economic growth as
strong global demand for components for Apple Inc's         
anticipated new iPhone and other electronic gadgets keep Asia's
hi-tech factories humming.             
    As of 0216 GMT, the main TAIEX index         was up 0.1
percent at 9,873.50, after closing flat in the previous session.
    Taiwan's financial markets will be closed on Monday for the
Labor Day holiday. Markets will resume trade on Tuesday. 
    The electronics subindex         rose 0.4 percent, while the
financials subindex         fell 0.1 percent. 
    Tech shares rose after Wall Street, with a slew of strong
U.S. earnings reports, propelled the Nasdaq         to an
all-time high.             
    Among actively traded tech shares in Taiwan, Hon Hai
Precision          , the world's biggest contract electronics
maker, was up 0.2 percent, while chipmaker TSMC           was
0.3 percent higher.  
    The Taiwan dollar          firmed T$0.008 to T$30.148 per
U.S. dollar.

 (Reporting by J.R. Wu; Editing by Subhranshu Sahu)
  

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