Shares in Taiwan closed higher Wednesday as Taiwan Semiconductor Manufacturing Co. got a boost from a higher-than-expected cash dividend proposal, attracting strong foreign institutional buying.
While TSMC's gains lifted the semiconductor sector, solid interest in flat panel stocks, particularly in Innolux Corp., which reported strong earnings for the fourth quarter of last year, gave additional support to the broader market.
The weighted index on the Taiwan Stock Exchange ended up 68.52 points, or 0.72 percent, at 9,462.22.