Taiwan stocks open up; HTC down for third session

TAIPEI: Taiwan stocks opened 0.88 percent higher on Monday and soon extended gains to over 1.4 percent, though smartphone maker HTC Corp fell for a third session after cutting its profit outlook and withdrawing an appeal over a German patent case.

The main TAIEX index opened at 6,844.3 and was last up 93 points at 6,877.39.

HTC was down 1 percent. It has fallen for three sessions after a surprise cut in its fourth quarter revenue outlook , and took another blow on Friday when a German patent firm said it would move to block HTC sales in Germany .

The Taiwan dollar was up by T$0.03 to trade at T$30.433.