Taiwan stocks extend gains

Taiwan stocks rose on Friday, amid widespread gains in regional markets and Wall Street. As of 02:15 GMT, the main TAIEX index rose 2.1 percent, to 7,986.89 points, after closing at 7,824.55 points in the previous session, up 1.41 percent. Concerns over a slowdown in China's economy gave way to cheer over an upward revision to US GDP growth and indications the US Fed would be in no rush to raise interest rates.
The electronics subindex rose 2.2 percent, while the financials subindex gained 1.7 percent. Autos spiked 4.61 percent, while oil, gas and electric firms were up 4.23 percent. The communication and internet subindex was the lone laggard, trading flat. The Taiwan dollar firmed T$0.504 to T$32.266 per US dollar.