Taiwan stocks higher

Taiwan stocks ended up 0.11 percent on Tuesday, lifted by department store counters which offset pressure from a fall in LCD makers after some brokers cut target prices. The main TAIEX index was up 9.72 points at 8,784.44, after opening flat. The department store sub-index was the top gainer, climbing 2.79 percent.
Optoelectronics shares shed 1.58 percent, with Chimei Innolux plummeting 6.23 percent and AU Optronics down 5.19 percent. J.P. Morgan cut Chimei's target price by 31 percent to T$22, and revised down its 2011 and 2012 book value estimates by 11 percent and 16 percent, respectively, due to lower average selling prices.