Taiwan stocks higher

Taiwan stocks rose on Monday trying to stay above the key 9,400 level hit earlier this month ahead of a long holiday break. The local stock market will be shut at the end of trade Tuesday for the Lunar New Year holidays. It will reopen on February 2.
The main TAIEX index rose 0.9 percent to 9,417.82 as of 0147 GMT, after closing up 0.1 percent in the previous session. The index closed at 9,410.18 on January 12, which at that time was a closing high unseen in about a year and a half. The electronics subindex rose 0.9 percent, while the financials subindex gained 0.7 percent. Among actively traded shares, Hon Hai Precision, which goes by the trade name of Foxconn, was up 0.4 percent. Foxconn chairman said on Sunday he was considering building a display-making plant in the United States in an investment that would exceed $7 billion. The Taiwan dollar firmed T$0.13 to T$31.403 per US dollar.