Taiwan: Stocks rise over 2% on bargain-hunting

[TAIPEI] Taiwan stocks rose more than 2 per cent on Monday as investors hunted for bargains after a long weekend and five straight sessions of falls.

The main TAIEX index was up 2.1 per cent at 9,090.61 as of 0142 GMT after closing down 0.4 per cent on Wednesday.

Taiwan's financial markets were closed on Sept 15 and 16 for the Mid-Autumn Festival holidays.

The electronics subindex rose 2.9 per cent, while the financials subindex gained 1.3 per cent.

Bellwether heavyweights chipmaker TSMC and electronics maker Hon Hai were up 4.3 per cent and 2.7 per cent, respectively.

The Taiwan dollar firmed NT$0.109 to NT$31.580 per US dollar.

REUTERS