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Taiwan stocks rise as tech, financials lend support
March 6, 2017 / 2:35 AM / 9 months ago

Taiwan stocks rise as tech, financials lend support

    TAIPEI, March 6 (Reuters) - Taiwan stocks rose on Monday,
supported by technology and financial shares, as markets viewed
a U.S. interest rate hike this month as a near certainty.
    The main TAIEX index         rose 0.1 percent to 9,659.90
points as of 0123 GMT, after closing down 0.5 percent on Friday.
    The electronics         and the financial subindexes        
rose 0.3 percent.
    Among actively traded shares, Nanya Technology Corp
         , an electronics manufacturer known for its memory
chips, rose 1.8 percent.
    DBS Group Research raised its 2017 economic growth forecast
for Taiwan to 2.5 percent from 2.1 percent on Monday, citing a
stronger-than-expected start of the year due to a recovery in
exports and inventory restocking in the manufacturing sector. 
    Global investors weighed Federal Reserve Chair Janet
Yellen's remarks on Friday, when she all but confirmed market
expectations for an interest rate rise in March barring any
sharp deterioration in economic conditions.              
    Meanwhile, China cut its growth target this year as the
world's second-largest economy pushes through painful reforms to
address a rapid build-up in debt, and erects a "firewall"
against financial risks.                   
    The Taiwan dollar          was down T$0.062 against the U.S.
dollar T$30.958.

 (Reporting by Jess Macy Yu; Editing by Amrutha Gayathri)

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