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Taiwan: Stocks gain in upbeat start to week of uncertainty

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[TAIPEI] Taiwan stocks rose in line with regional sentiment on Monday, but a volatile week is expected as uncertainties in Europe and at home fray investors' nerves.

Export orders data for May is due after the session ends, and is expected to show a decline for the 14th consecutive month, reflecting weak global demand for the trade-reliant island's technology products.

Later this week Britain votes on whether to remain in the European Union, an event that DBS economists said has heightened volatility in global financial markets and, if the situation worsens, could yet spillover negatively on the real global economy.

As of 0227 GMT, the main Taiex index was up 0.7 per cent at 8,629.94 points, after closing up 0.9 per cent in the previous session.

The electronics subindex rose 0.7 per cent, while the financials subindex gained 0.4 per cent.

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Among actively traded shares, Hon Hai Precision was up 1.6 per cent. The assembler for Apple Inc's iPhones will hold its annual shareholder meeting Wednesday, an event where founder Terry Gou usually offers a long-term outlook for Hon Hai, the world's largest electronics manufacturer.

The Taiwan dollar firmed T$0.09 to T$32.295 per US dollar.


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