Taiwan shares closed up 1.19 percent at a near two-week high on Tuesday, paced by Yangming Marine after Credit Suisse gave a sweeping upgrade of Asia's container shipping sector. Adding to the gains were flat panel makers such as Chi Mei, which ended up 3.17 percent before its quarterly results.
The benchmark TAIEX share index rose 92.63 points to 7,875.75, a level not seen since January 25, led by a 3.44 percent rally in the transport sub-index. The electronics sub-index rose 1.39 percent and the financial sub-index gained 0.9 percent. Trading was active at T$97.8 billion (US $2.96 billion), up from T$75.4 billion in the previous session.
After the market closed, Chi Mei Optoelectronics, Taiwan's No 2 flat panel maker, posted a worse-than-expected slide in quarterly profits, hurt by falling screen prices. Rivals AU Optronics gained 3.92 percent and Innolux, part of Taiwan's top electronics gear maker Hon Hai Precision, soared 7 percent. Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker, was up 1.62 percent. TSMC said it had opened an office in India to support its customers with design activities there.
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