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Taiwan: Stocks rise; TSMC, Hon Hai up

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[TAIPEI] Taiwan stocks rose on Thursday, paced by gains in Taiwan Semiconductor Manufacturing Co (TSMC) ahead of its quarterly results.

The main TAIEX index was up 0.3 per cent at 9,850.56 as of 0200 GMT, beating some regional bourses and recovering from a 0.2 per cent drop in the previous session.

The electronics subindex rose 0.4 per cent, while the financials subindex gained 0.1 per cent.

TSMC, the world's largest contract chip maker and a major Apple Inc supplier, climbed 0.3 per cent. The company is set to report its first-quarter results and give guidance for the second quarter later in the day.

Hon Hai Precision, another major supplier to Apple, rose nearly 2 per cent. Hon Hai made the second highest offer, of about 2 trillion yen, for Toshiba Corp's chip unit after Broadcom Ltd, a source briefed on the matter said on Thursday.

The Taiwan dollar firmed NT$0.175 to NT$30.381 per US dollar.

REUTERS

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