Taiwan: Stocks rise; Hon Hai jumps on Sharp deal approval, Q4 earnings

[TAIPEI] Taiwan stocks rose on Thursday, led by gains in iPhone assembler Hon Hai Precision after the company approved a deal with Japan's Sharp Corp and posted better-than-expected earnings in the fourth quarter.

As of 1:40 GMT, the main TAIEX index rose 0.4 per cent to 8,773.88 points, after closing at 8,737.04 points in the previous session.

Hon Hai jumped 2.3 per cent, boosting the electronics subindex by 0.5 per cent.

The financials subindex was up 0.8 per cent.

The Taiwan dollar firmed T$0.261 to T$32.164 per US dollar.

REUTERS