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Taiwan: Stocks rise; TSMC, HTC rebound

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[TAIPEI] Taiwan stocks rose on Tuesday as investors snapped up recently beaten-down technology stocks such as Taiwan Semiconductor Manufacturing Co (TSMC) and HTC.

The main Taiex index was up 0.4 per cent at 9,330.29 as of 0138 GMT, outperforming some regional bourses.

TSMC, the world's biggest contract chip maker, was 0.3 per cent higher, after two sessions of falls on forecast first-quarter revenue would be lower than the previous three months.

Smartphone maker HTC jumped nearly 1 per cent, heading for its first gain in three sessions.

The electronics subindex rose 0.5 per cent, while the financials subindex gained 0.3 per cent.

The Taiwan dollar softened NT$0.038 to NT$31.740 per US dollar.

REUTERS

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