Taiwan stocks up

Taiwan stocks rose 0.19 percent on Wednesday, outperforming other regional bourses and Wall Street, lifted by major smartphone chip designer MediaTek Inc. As of 0155 GMT, the main TAIEX index was up 16.93 points at 9065.27, after dropping 2.43 percent on Tuesday.
The electronics subindex rose 0.26 percent. MediaTek, whose chip designs are in widespread use among low-priced smartphone vendors in China and other emerging markets, saw a 4 percent gain. This outpaced the 0.44 percent gain in the broader semiconductor subindex. Banks and insurance firms rose 0.26 percent. On Tuesday Taiwan's financial regulator said it expects the financial industry's profits to grow 5 to 10 percent this year from last year.