Taipei - Taiwan stocks opened higher Wednesday after Tuesday's big Wall Street rally.

After the Taipei stock market opened at 9 am, the benchmark TAIEX quickly surged as much as 7 per cent higher. One hour into trading, TAIEX eased to 4,536.17, still up 136.2 points, or 3.1 per cent, from Tuesday's closing figure.

Analysts attributed the TAIEX surge to Tuesday's rally on Wall Street.

On Tuesday, the Dow Jones industrials rose 889.35 points, or 10.88 per cent, ahead of a Federal Reserve meeting on Wednesday, when the US central bank is expected to further slash key interest rates. (dpa)