Taiwan: Stocks rise, Apple suppliers up

[TAIWAN] Taiwan stocks rose on Wednesday, cheered by gains in Apple Inc's suppliers following the iPhone maker's strong rise on Wall Street overnight.

As of 0222 GMT, the main TAIEX index rose 0.7 per cent to 8,669.17, with the electronics subindex and financials subindex both up about 0.7 per cent. The main index closed at 8,611.18 in the previous session.

Apple suppliers Largan Precision and Taiwan Semiconductor Manufacturing Co (TSMC) rose 4 per cent and 0.3 per cent, respectively.

Apple shares jumped 2 per cent on Tuesday after Morgan Stanley raised its estimate for the company's first-quarter iPhone unit sales to 56.5 million from 49 million.

The Taiwan dollar firmed T$0.103 to T$32.815 per US dollar.

REUTERS