Taiwan: Stocks up tracking overseas markets, main index at 3-month high

[TAIPEI] Taiwan stocks rose on Tuesday taking cues from overseas markets and hovering around levels not seen since early December.

The market was shut on Monday for a public holiday.

As of 0221 GMT, the main TAIEX index was up 0.6 per cent at 8,461.06 points, after closing down 0.5 per cent on Friday.

The electronics subindex rose 0.8 per cent, while the financials subindex lost 0.1 per cent.

Shares in Hon Hai were off 0.8 per cent. The company, which goes by the trade name of Foxconn, and Japan's Sharp have said they hope to finalise a deal "as soon as possible" after a late hitch last week prompted the Taiwanese group to hold off on its takeover of Sharp.

The Taiwan dollar firmed T$0.287 to T$33.205 per US dollar.

REUTERS