Taiwan stocks up; Hon Hai jumps after Q2 earning
TAIPEI: Taiwan stocks rose 1.01 percent on Tuesday, with Hon Hai surging 6.54 percent after reporting a 9.8 percent fall in second-quarter net income from the previous quarter, but a rise in revenue and growth in market share.
The main TAIEX index rose 76.36 points to 7,654.37, lifted by construction counters which gained 1.22 percent. The index had ended up 1.79 percent in the previous session.
Electronics shares rose 1.04 percent.
The financial sub-index climbed 0.42 percent, with Far Eastern International Bank rising 1.12 percent after its plan to buy ING Groep NV's Taiwan brokerage and wealth management units.
The Taiwan dollar was flat at T$29.021.
Foreign investors were net buyers on Monday, picking up T$7.415 billion, the most so far this month.
Copyright Reuters, 2011
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