Taiwan: Stocks up, Apple supplier Hon Hai leads tech rally

[TAIPEI] Taiwan stocks rose on Tuesday, led by technology shares and buying in Hon Hai Precision Industry after the key supplier to Apple Inc reported solid third-quarter profit.

The gains in overseas markets, particularly in US stocks overnight, also bolstered domestic sentiment.

As of 0134 GMT, the main TAIEX index was up 1.8 per cent at 8,443.10, after closing down 0.4 per cent in the previous session.

Shares in Hon Hai Precision, which goes by the trade name of Foxconn, jumped 2.4 per cent after the company said its net profit in the July-September quarter surged 47 per cent from the second quarter and was up 11 percent from the same period a year earlier.

The electronics subindex rose 2.1 per cent, while the financials subindex gained 1.2 percent.

The Taiwan dollar firmed TW$0.242 to TW$32.780 per US dollar.

REUTERS