Taiwan stocks up

Taiwan stocks rose 1.21 percent to their highest close in over two months and the local currency rallied on Tuesday, joining regional bourses in gains, with safe bets such as AU Optronics up before the presidential vote this Saturday. The main TAIEX index jumped 85.83 points to 7,178.87, its highest closing level since mid-November. Electronics was up 0.98 percent and financial advanced 1.65 percent.
AU Optronics, whose shares had tumbled last year due to losses for quarters, soared by the 7 percent limit allowed in one session. UMC, the world's No 2 contract chip maker and a market heavyweight, ended up 3.1 percent after releasing its December sales results. The Taiwan dollar climbed sharply by T$0.148 to stand at T$30.057. Foreign investors were net buyers on Monday, bringing their total selling to T$298 million this month.