Economy

Taiwan Markets Gain After Fed's First Rate Hike in Three Years

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By TaiwanPlus

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Taiwan's stock market opened higher after the US Federal Reserve raised interest rates for the first time in three years. Taiwan's benchmark index, the Taiex, climbed more than 800 points in the first hour of trading, regaining its hold above 46,000 points. Gains were led by chipmaking giant TSMC, which rose more than 2.5% in early trading. While the Fed's quarter-percentage-point rate hike weighed on Wall Street, technology shares helped lift markets across Asia. Japan's Nikkei and South Korea's Kospi also opened higher as investors reacted to the latest US monetary policy decision.

Asia Markets Rally

REPORTER:  
Taiwan's stock market opened higher as the US Federal Reserve hiked interest rates for the first time in three years.

Taiwan's benchmark index, the Taiex, jumped more than 800 points in the first hour of trading to regain its hold above 46,000 points. Gains were led by chip giant TSMC, which rose more than 2.5 percent in early trading. While the Fed's quarter-percent rate hike weighed on Wall Street, tech stocks led gains across Asia, with Japan's Nikkei and South Korea's Kospi also opening higher.

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Asia Markets Rally

REPORTER:  
Taiwan's stock market opened higher after the U.S. Federal Reserve raised interest rates for the first time in three years.

Taiwan's benchmark index, Taiex, jumped more than 800 points in the first hour of trading to regain its hold above 46,000 points. Gains were led by bellwether TSMC, which rose more than 2.5 percent in early trading. While the Fed's 25-basis-point rate hike weighed on Wall Street, tech stocks led gains across Asia, with Japan's Nikkei and South Korea's Kospi opening higher.