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Taiwan: Stocks hit 3-month high on bargain hunting

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[TAIPEI] Taiwan stocks rose on Monday in line with regional gains with investors bargain-hunting to push the domestic bourse to new highs not seen since before Brexit battered confidence late last month.

As of 0327 GMT, the main Taiex index rose 0.2 per cent to 8,756.94, after closing up 0.8 per cent in the previous session at a three-month high. The index hit a high of 8782.38 earlier, its highest since March 31.

The electronics subindex rose 0.4 per cent, while the financials subindex gained 0.2 per cent.

Among actively traded shares, big-capped electronics maker Hon Hai was 0.9 per cent higher, while chip designer MediaTek was nearly 4 per cent ahead.

The Taiwan dollar firmed T$0.026 to T$32.192 per US dollar.