Taiwan: Stocks up on bargain hunting, tech sector strong

[TAIPEI] Taiwan stocks rose on Wednesday on broad-based gains, led by bargain hunting as investors chased tech shares higher.

As of 0110 GMT, the main TAIEX index rose 2.2 per cent, to 8,176.63 points, after closing up 0.2 per cent in the previous session.

The electronics subindex rose 2.5 per cent, while the financials subindex gained 1.9 per cent.

Big-caps were up with shares in chipmaker TSMC up 3.3 per cent, while those of its smaller rival UMC were up 1.8 per cent. Shares in Hon Hai Precision, which goes by the trade name Foxconn and is the main assembler for Apple Inc's iPhones, were also up 1.8 per cent.

The Taiwan dollar firmed T$0.375 to T$32.628 per US dollar.

REUTERS