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Taiwan stocks up, look set for 10 pct gain in 2016
December 30, 2016 / 3:46 AM / a year ago

Taiwan stocks up, look set for 10 pct gain in 2016

TAIPEI, Dec 30 (Reuters) - Taiwan stocks rose on Friday in
the last trading day of the year, with the main index looking
set to post an annual gain of just over 10 percent,
outperforming most of its Asian peers.
    The day's gains came as the government said it would halve
the transaction tax on day trades in local shares, in a bid to
bolster thin trading in the island's stock market. 
    Taiwan's financial markets will be shut on Monday for the
New Year holiday weekend. They resume trade on Tuesday. 
    As of 0320 GMT, the main TAIEX index was up 0.8
percent at 9,228.78 points, after closing down 0.5 percent in
the previous session to ease off one-week highs.
    If the gains hold by the end of trading, the main
index will close out 2016 around 10.7 percent higher, recouping
the 10 percent loss it suffered in 2015.
    By comparison, the MSCI Asia ex-Japan index 
looked set for a yearly gain of 3.3 percent.
    The Taiwan electronics subindex rose 0.6 percent,
while the financials subindex gained 0.7 percent. 
    Large-capped bellwethers, key to the index's performance,
were higher.
    The world's largest contract chipmaker TSMC
 was up 0.3 percent, while Apple Inc supplier
and electronics manufacturer Hon Hai Precision Industry
 was 0.7 percent ahead. 
    The Taiwan dollar firmed T$0.137 to T$32.175 per
U.S. dollar.

 (Reporting by J.R. Wul; Editing by Kim Coghill)

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