TAIPEI, Sept 29 Taiwan stocks rose on Thursday
on resumption of trading after a two-session break due to a
typhoon, as gains in overseas markets boosted investor
Investors waited for the central bank's quarterly policy
meeting scheduled after market hours later in the day for clues
about the domestic economy.
The central bank is expected to refrain from cutting rates
for the first time in a year as it expects economic prospects to
improve for the trade-dependent economy, according to a Reuters
But uncertainties in global demand and growth momentum are
expected to keep Taiwan's monetary policy loose, economists
The main TAIEX index was up 0.9 percent at 9,273.87
after closing down nearly 1 percent on Monday.
Taiwan's financial markets were shut on Tuesday and
Wednesday. Typhoon Megi, the third typhoon in this month to slam
into Taiwan, killed four people and injured hundreds more,
prompting work and school closures.
The electronics subindex rose 1.2 percent, while the
financials subindex gained 0.6 percent.
Among actively traded stocks, Mega Financial rose
after opening lower on the latest developments in an ongoing
probe of its banking unit.
On Wednesday, the Taiwan state-controlled firm said overseas
branches of its banking unit were coming under greater scrutiny
by regulators abroad following critical lapses involving suspect
transactions between its New York and Panama branches.
The Taiwan dollar firmed T$0.147 to T$31.285 per
(Reporting by J.R. Wu; Editing by Subhranshu Sahu)