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Taiwan: Stocks up on Chinese gains; tech components up

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Taiwan stocks rose on Monday, as a rise in Chinese bourses calmed nerves after roller coaster swings last week.

[TAIPEI] Taiwan stocks rose on Monday, as a rise in Chinese bourses calmed nerves after roller coaster swings last week.

As of 1:56 GMT, the main TAIEX index has risen 0.4 per cent, to 8,032.66 points, after closing at 8,000.6 points in the previous session, down 1.18 per cent.

China markets opened in positive territory after a senior regulator said markets were more stable and risks associated with high levels of leverage have eased following a period of high volatility.

The electronics subindex rose 0.5 per cent, while the financials subindex notched a 0.3 per cent rise.

Optoelectronics kept gains in check, however, dropping 1.41 per cent, though electrical components enjoyed a 1.17 per cent gain.

The Taiwan dollar firmed T$0.182 to T$32.651 per US dollar.

REUTERS