Taiwan stocks rose 0.23 percent on Tuesday as Catcher Technology's better-than-expected results sparked optimism of a promising outlook for other Apple Inc suppliers. Catcher, which makes casings for Apple, soared by the 7-percent limit and lifted electronics shares 0.4 percent higher. The company posted a 47 percent gross margin for the second quarter.
"Catcher's results were way above market expectations, pointing at a direction that other Apple suppliers might follow suit," said Alan Huang, a vice president of HSBC Funds in Taiwan. About one hour into trade, the benchmark index had climbed 19.95 points to 8,703.46, tracking gains in regional bourses.