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Taiwan: Stocks flat; HTC up on executive shuffle

[TAIPEI] Taiwan stocks were flat on Monday, though HTC Corp rose after announcing that its founder and chairwoman would take over as the chief executive.

As of 0147 GMT, the main TAIEX index was up 0.2 points to 9,749.89, after closing up 0.13 per cent on Friday.

Struggling smartphone-maker HTC rose 2.83 per cent. On Friday, the firm said Cher Wang would take over as chief executive from Peter Chou, who will transition to product development.

This helped the overall electronics subindex climb 0.13 per cent, though the heavily weighted semiconductor subindex was flat.

Autos dropped 0.35 per cent, while computers and peripheral equipment saw a 0.31 per cent rise.

The Taiwan dollar was up T$0.113 to stand at T$31.435 to the US dollar.