Taiwan stocks rise

Taiwan stocks rose on Friday, in line with regional markets, and on expectations of more easing ahead after the island's central bank cut rates for the fourth consecutive time to shore up confidence in the flagging economy. Taiwan's central bank trimmed interest rates by 12.5 basis points on Thursday, as expected, saying fiscal stimulus and economic restructuring were also needed to revive the economy, with economists looking for more easing ahead.
As of 0218 GMT, the main TAIEX index rose 0.7 percent to 8,724.87, after closing 0.9 percent higher in the previous session. The index is on track to gain nearly 3 percent on the week. The electronics subindex rose 0.8 percent, while the financials subindex gained 0.5 percent. Shares in companies of the industrial conglomerate Formosa Plastics were mixed after the Vietnamese government said on Thursday the steel unit of the group caused one of the biggest environmental disasters to hit the Southeast Asian nation.