TAIPEI May 24 Taiwan stocks rose for a third
straight session on Wednesday, joining other markets in the
region, with tech and financial heavyweights leading the way.
As of 0123 GMT, the main TAIEX index was up 0.3
percent at 10,042.10, after closing 0.1 percent higher at
10,007.84 in the previous session.
The electronics subindex rose 0.2 percent, while the
financials subindex gained 0.2 percent.
Among the most actively traded stocks, Cathay Financial
Holding and Fubon Financial Holding, parent
companies of Taiwan's two biggest life insurers, both jumped
about 0.2 percent.
Their life insurance units and other local rivals posted a
combined forex loss of T$83.7 billion ($2.8 billion) in the
first four months of the year, as gains in the Taiwan dollar
hurt their overseas investment portfolios, according to local
The Taiwan dollar softened T$0.019 to T$30.185 per
The Taiwan dollar has strengthened almost 8 percent so far
this year, trailing only the South Korean won in major Asian
Taiwan's central bank has refrained from weakening the
currency through market intervention, a precaution against the
possibility of being labelled a currency manipulator by the
(Reporting by Faith Hung; Editing by Subhranshu Sahu)