Taiwan: Stocks up following US futures over Greece

[TAIPEI] Taiwan stocks rose on Monday following a jump in the US stock futures on optimism that Greece could stabilise in the near term and as domestic investors picked up bargains after a long holiday weekend.

The main TAIEX index rose 1.2 per cent to 9,331.33 as of 0147 GMT, after closing up 0.3 per cent on Thursday.

Taiwan's financial markets were shut on Friday for a public holiday.

US stock futures jumped in early Asian trade, while Chinese shares were shut Monday for a holiday after posting their biggest weekly loss since 2008 last week.

Gains in Taiwan were broadbased.

The financials subindex gained 1.6 per cent, while the electronics subindex rose 1.2 per cent.

The transport subindex was up 0.4 per cent and the plastics subindex was 2.4 per cent higher.

Tech bellwethers Hon Hai Precision and AU Optronics were up over 2 per cent and 1 per cent, respectively.

Banking shares including Yuanta Financial and CTBC Financial were ahead around 1 per cent each.

The Taiwan dollar firmed TW$0.319 to TW$30.743 per US dollar.

REUTERS