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Taiwan: Stocks higher on buying ahead of long holiday break

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[TAIPEI] Taiwan stocks rose on Monday trying to stay above the key 9,400 level hit earlier this month ahead of a long holiday break.

The local stock market will be shut at the end of trade Tuesday for the Lunar New Year holidays. It will reopen on Feb 2.

The main Taiex index rose 0.9 per cent to 9,417.82 as of 0147 GMT, after closing up 0.1 per cent in the previous session. The index closed at 9,410.18 on Jan 12, which at that time was a closing high unseen in about a year and a half.

The electronics subindex rose 0.9 per cent, while the financials subindex gained 0.7 per cent.

Among actively traded shares, Hon Hai Precision, which goes by the trade name of Foxconn, was up 0.4 per cent.

Foxconn chairman said on Sunday he was considering building a display-making plant in the United States in an investment that would exceed US$7 billion.

The Taiwan dollar firmed NT$0.13 to NT$31.403 per US dollar.

REUTERS

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