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Taiwan: Stocks rise; TSMC, Hon Hai up on Apple results

Wednesday, July 27, 2016 - 09:33

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[TAIPEI] Taiwan stocks rose on Wednesday, led by gains in TSMC, Hon Hai Precision and other Apple Inc suppliers after the US company sold more iPhones than expected in the third quarter.

About 10 minutes into trading, the main Taiex index rose 0.3 per cent, to 9,055.34, after closing at 9,024.79 in the previous session.

The electronics subindex rose 0.6 per cent, while the financials subindex gained 0.1 per cent.

Apple's suppliers traded higher. Among them, contract chip maker Taiwan Semiconductor Manufacturing Co (TSMC) gained 1.2 per cent.

Hon Hai rose 0.7 per cent and Largan Precision climbed 1.6 per cent.

The Taiwan dollar softened NT$0.054 to NT$32.160 per US dollar.


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