Taiwan stocks rose 1.5 percent on Tuesday, paced by Acer and other computer firms, as investors were encouraged by news the G7 will hold emergency talks on the eurozone debt crisis that has triggered a heavy sell-off in global markets. Boosting market confidence further, the island's legislature approved overnight five preliminary versions of a capital gains tax on stock trading.
The version that favours stock investors is more likely to get final approval than one put out last week, local media reported on Tuesday. The main TAIEX index ended up 105.79 points at 7,000.45, regaining some ground after a near 6 percent plunge in the prior two sessions. Among the top winning sectors, automobile and electronics added 4.4 percent and 1.7 percent, respectively. Acer Inc rose by the maximum 7 percent limit allowed in a single session, while rival Asustek climbed 3.6 percent.
Acer said on Monday at the annual Computex trade show event that it would formally launch new ultrabook and tablet designs after Microsoft puts its new windows system in the market, expected in the fourth quarter. The Taiwan dollar jumped by T$0.067 to trade at T$29.983.