Taiwan stocks up

Taiwan stocks ended up 0.56 percent to a fresh two-month closing high on Thursday, led by gains in tourism and transport shares like China Airlines amid hopes of better business ties between Taiwan and China. However sluggish chip stocks took some of the shine off the day's gains after the chairman of the world's top contract chip maker, TSMC, cut his forecasts for the global chip industry growth amid supply chain disruptions caused by the earthe quake and nuclear crisis in Japan.
TSMC Chairman Morris Chang told a company meeting in California that 2011 global chip industry growth, excluding memory chips, would be 4 percent from 7 percent he had previously estimated. The TAIEX index closed 49.74 points higher at 8,901.72, finishing at its highest level in two months for a second day.