Taiwan stocks up on Wall Street, GDP data; HTC up before outlook

31 Oct, 2014

TAIPEI: Taiwan stocks rose 0.2 percent on Friday as market sentiment was buoyed by a rally on Wall Street and better-than-expected economic growth at home, paced by gains of Apple Inc suppliers.

About two hours into trade, the main TAIEX index climbed to 8,905.81, reversing a 0.2 percent fall in the prior session.

Largan Precision, which makes camera phone lenses for Apple, rose 1.7 percent, sending electronics shares up by 0.2 percent.

Smartphone maker HTC rose 0.4 percent. The company is set to announce its fourth-quarter outlook after market close.

Other winning sectors included textiles which gained 0.8 percent and food which rose 0.2 percent.

The Taiwan dollar rose 0.069 percent to T$30.381 to the US dollar.

Taiwan's economy posted its best growth in nearly two years and beat market expectations as increased demand for Apple's new iPhone 6 boosted the island's electronics exports.

Copyright Reuters, 2014

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