Taipei - Taiwan stocks rose more than 5 per cent in midmorning trading Tuesday, after European countries unveiled rescue plans for their banking sectors.

One hour after the stock market had opened, the TAIEX index surged 274.95 points, or 5.48 per cent, to 5,295.39.

Stock index in other Asian countries also surged, led by Japanese shares rebounding 13 per cent Tuesday morning. (dpa)