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Taiwan: Stocks rise; Apple supplier Hon Hai jumps

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Taiwan stocks rose 0.7 per cent in early trade on Tuesday, joining other regional bourses in gains, with Apple Inc supplier Hon Hai Precision trading higher on a media report the company is set to pay a record cash dividend to investors.

[TAIPEI] Taiwan stocks rose 0.7 per cent in early trade on Tuesday, joining other regional bourses in gains, with Apple Inc supplier Hon Hai Precision trading higher on a media report the company is set to pay a record cash dividend to investors.

About 15 minutes into trade, the main TAIEX index had climbed to 9,672.14 points, extending a 0.3 per cent rise in the prior session.

Hon Hai, which makes the popular iPhones and is the world's biggest electronics components maker, added 2 per cent, lifting overall electronics shares by 0.7 percent.

Hon Hai is set to pay T$3,800 (US$122) in cash for every 1,000 shares its investors owned, thanks to solid profit it made in 2014, the Commercial Times reported on Tuesday.

Banks also jumped 1.6 per cent.

The Taiwan dollar was up 0.412 per cent at T$30.484 against the US dollar.

REUTERS

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