Taiwan stocks up

Taiwan's main share index closed 0.88 percent higher on Monday after the biggest single-day drop in eight months in the previous session, with chip shares in the lead as the Taiwan currency retreated to early January levels. Fund managers said the bounce might be short-lived and lack momentum to climb further this week, however, as foreign investors remain cautious over emerging markets.
The TAIEX index rose 75.61 points to 8,685.47, after opening up 0.66 percent and gaining as much as 1.2 percent during trading. The semiconductor sub-index was up 1.71 percent, while electronics shares rose 1.4 percent. Financial shares also rose 0.8 percent.