Taiwan stocks up

Taiwan shares were higher on Thursday led by TSMC announcing its third quarter revenue would be better than expected and on bargain-hunting after sharp losses in the previous session. But the gains were being eroded ahead of the quarterly policy meeting of Taiwan's central bank board, where rates may be cut for the first time in six years to help bolster slowing economic growth.
As of 0159 GMT, the main TAIEX index had risen 0.2 percent, to 8,207.70 points, after closing down 2.1 percent in the previous session. TSMC shares were ahead 2 percent after it offered guidance that third quarter revenue would be increased by foreign exchange gains, but TMC said it expected fourth quarter revenue to fall from third quarter levels.