Taiwan: Stocks rise with overseas markets, broad-based gains

[TAIPEI] Taiwan stocks rose on Monday tracking overseas markets higher amid mostly broad-based gains.

As of 0417 GMT, the main Taiex index was up 0.6 per cent at 9,683.82, after closing down 0.3 per cent in the previous session. The index has been consolidating between 9,600 and 9,800 in the past month.

The electronics subindex rose as much as 0.8 per cent, while the financials subindex gained up to 0.6 per cent.

Among the big-caps, Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker, climbed as much as 1.4 per cent. TSMC's February sales, issued on Friday after the market closed, were ahead nearly 20 per cent in February from a year ago, and were up 13.5 per cent for the first two months of this year.

Hon Hai Precision Industry Co Ltd, the world's biggest contract electronics manufacturer, was flat to weaker. Its February sales, issued after market hours, were 3.2 per cent ahead when compared with the year-ago period, and were up 2.7 per cent for the first two months.

The Taiwan dollar firmed NT$0.094 to NT$30.942 per US dollar.

REUTERS