May 25, 2017 / 3:09 AM / 2 months ago

Taiwan stocks rise for 4th day, heavyweights gain; Sinopac down

2 Min Read

TAIPEI, May 25 (Reuters) - Taiwan stocks rose for a fourth session on Thursday as investor sentiment was bolstered by gains in overseas markets, led by tech heavyweights such as TSMC and Hon Hai Precision Industry.

As of 0237 GMT, the main TAIEX index rose 0.5 percent to 10,094.68 points, on track for its fourth winning session in a row.

The main index closed above the 10,000-point milestone at a 17-year-high earlier this month, partly because of foreign buying into heavyweights.

The electronics subindex rose 0.6 percent, while the financials subindex gained 0.2 percent.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's biggest contract chip maker, added 0.5 percent. Hon Hai, a key supplier of Apple Inc, jumped 1 percent.

Sinopac Financial Holdings, a mid-sized financial holding firm, fell 0.2 percent. The company said its chief financial officer and some other top executives have resigned amid a string of scandals that involved an inappropriate loan by an overseas unit.

The Taiwan dollar firmed T$0.096 to T$30.087 per U.S. dollar. (Reporting by Faith Hung; Editing by Sunil Nair)

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