Taiwan: Stocks hit near 4-month highs; Hon Hai inches up

[TAIPEI] Taiwan stocks rose more than half a per cent to a near four-month high on Tuesday, tracking gains on Wall Street and other regional bourses.

As of 0201 GMT, the main Taiex index was up 0.42 per cent, or 36.87 points, at 8,823.34, after rising as much as 0.6 per cent earlier in the session to its highest level since March 21. It had gained 1.7 per cent in the previous session.

The electronics and financial sub-indexes, the market's most heavily weighted sectors, gained about 0.6 per cent each on Tuesday.

Asian stocks held firm around a 2-1/2-month peak, a day after US shares hit a record high, due to a combination of upbeat US data and expectations of more stimulus around the world.

Hon Hai Precision, the world's biggest electronics components maker, edged up 0.7 per cent after reporting its June sales results.

The Taiwan dollar was steady at T$32.234 to the US dollar.

REUTERS