Taiwan stocks closed up 0.42 percent on Thursday, with Yuanta Financial Holdings leading financial shares higher on news it would sell its stake in Singapore stock broker Kim Eng.
"Yuanta's move reflects a rising trend that Taiwanese brokerages and banks will be focusing mainly on tapping the mainland Chinese market, now that the ECFA had taken effect." said Albert Hsieh, an assistant vice president of Shin Kong Financial's asset management arm.
The main TAIEX share index was up 36.90 points at 8,883.21. Yuanta, Taiwan's biggest brokerage firm, surged 6.34 percent, boosting financial shares by 1.33 percent.