Taiwan stocks up

Taiwan stocks were higher on Monday as a weekend rate cut in China sent Asian bourses up on hopes the move will bolster the flagging Chinese economy. But the gains could be short-lived as the slowdown in China, the island's largest trading partner and the destination for 40 percent of its exports, may not bode well for Taiwan.
The main TAIEX index was up 0.1 percent at 9,701.72 as of 0143 GMT, giving back opening gains of more than 1 percent. The index had closed down 0.12 percent on Friday. The electronics subindex was up 0.1 percent, while the financial subindex was higher 1 percent. The transport subindex was higher 0.5 percent and the plastics subindex was 0.3 percent ahead. Among the actively traded shares, Shin Kong Financial was 1.9 percent higher and chipmaker United Microelectronics was up 1.1 percent.