Taiwan: Stocks edge up; techs rebound

[TAIPEI] Taiwan shares rose after two sessions of losses as investors snapped up beaten-down stocks such as smartphone maker HTC Corp.

The main Taiex index rose 0.2 per cent to 8,958.11 points, as of 0253 GMT. It had hit a four-month low during trade in the previous session.

The index had posted losses in the last two sessions amid investor concerns that higher US interest rates under incoming President Donald Trump will spark capital outflows from Taiwan and the rest of Asia.

The electronics subindex rose 0.1 per cent on Tuesday, but the financials subindex lost 0.1 per cent.

HTC jumped 2.1 per cent, while Largan Precision, a component supplier to Apple Inc, gained 0.8 per cent.

The Taiwan dollar firmed NT$0.063 to NT$31.886 per US dollar.

REUTERS