Taiwan Stocks Gain as Ma Plan to Meet China's Xi Lifts Sentiment
- China, Taiwan leaders to meet for first time in seven decades
- Global investors bought most Taiwan shares since April
Taiwan’s stocks rose to a three-month high and its currency strengthened as President Ma Ying-jeou’s plan to meet with his Chinese counterpart stoked optimism that improving relations between the two historical foes will boost the island’s economy.
Ma and Chinese President Xi Jinping will talk in Singapore on Saturday, Ma’s office said late Tuesday, marking the first such meeting since a civil war between China’s Communist Party and Taiwan’s ruling Kuomintang ended in 1949. The meeting improves prospects for closer economic ties as polls before January’s election project Ma will be succeeded by opposition candidate Tsai Ing-wen, who is more skeptical of integration with China. The leaders won’t sign any agreements or make joint statements, Ma’s office said.