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Taiwan stocks rise as TSMC, Hon Hai jump; index on track to hit 10,000-mark
May 2, 2017 / 2:05 AM / 7 months ago

Taiwan stocks rise as TSMC, Hon Hai jump; index on track to hit 10,000-mark

TAIPEI, May 2 (Reuters) - Taiwan stocks rose on Tuesday, with Taiwan Semiconductor Manufacturing Co (TSMC) leading heavyweights higher as sentiment was boosted by rising optimism over the prospects of the technology industry and easing concerns over North Korea.

As of 0122 GMT, the main TAIEX index rose 0.7 percent to 9,942.14, on track towards the 10,000-point milestone, which would be its highest intraday level in two years.

The electronics subindex rose 1.0 percent, while the financials subindex gained 0.8 percent.

TSMC, the world’s biggest contract chip maker, jumped 2 percent.

Hon Hai Precision, a major supplier of Apple Inc iPhones, rose 1 percent. The company is planning a “capital-intensive” investment in the United States, Chairman Terry Gou said on Friday.

The Taiwan dollar firmed T$0.133 to T$30.085 per U.S. dollar.

Reporting by Faith Hung; Editing by Biju Dwarakanath

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