Taiwan: Stocks down, HTC up on technical rebound

[TAIPEI] Taiwan stocks were lower on Monday, following Asian markets and a lack of a strong domestic driver for sentiment.

The main TAIEX index fell 0.1 per cent to 9,293.16.

The financials index gained 0.4 per cent, while the electronics index was off 0.1 per cent.

Asian shares were off on concerns about Greece and ahead of the Federal Reserve meeting.

Lack of cues at home gave some shares a chance to consolidate gains or recover from losses.

Among actively traded shares, China Development Financial was 0.8 per cent higher.

Shares in smartphone maker HTC Corp rose 9.3 per cent, after sliding sharply last week when the company forecast a steep loss for the June quarter, prompting talk of the company being acquired.

HTC shares are down around 50 per cent from February levels and the latest gains may be technical rebounding, traders said.

The Taiwan dollar firmed T$0.243 to stand at T$30.983 to the US dollar.

REUTERS