January 12, 2017 / 2:36 AM / 10 months ago

Taiwan stocks hit over 18-mth highs, TSMC up ahead of Q4 results

TAIPEI, Jan 12 (Reuters) - Taiwan stocks rose nearly 1
percent on Thursday to their highest in more than 18 months,
tracking gains in overseas markets in a relief rally after U.S.
President-elect Donald Trump's widely-awaited news briefing
yielded little clarity on his future fiscal policies.
    Gains were also boosted by Taiwan Semiconductor
Manufacturing Co Ltd (TSMC), which rose 1.4 percent
ahead of its fourth-quarter results scheduled after market
hours. The world's largest contract chipmaker will also issue
its outlook for this year. 
    Analysts on average expected December-quarter net profit to
come in at T$96.21 billion ($3.04 billion), according to Thomson
Reuters Eikon, just shy of the quarterly record of T$96.8
billion reported for the previous three months.
    The main TAIEX index was up 0.8 percent at 9,417.55 
as of 0147 GMT after rising to its highest since late June 2015.
It had closed almost flat in the previous session.
    The electronics subindex rose 0.7 percent, while the
financials subindex gained 0.5 percent.
    The Taiwan dollar was up T$0.185 at T$31.750 per
U.S. dollar after rising to its strongest against the U.S.
dollar since early December.

($1 = 31.6980 Taiwan dollars)

 (Reporting by J.R. Wu; Editing by Subhranshu Sahu)

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