TAIPEI: Taiwan stocks ended up 0.15 percent on Thursday, with gains by TPK Holding Co Ltd, Wintek Corp and other suppliers of Apple Inc ahead of an Apple media event next week.
But the gains were capped as unrest in the Middle East remains an uncertainty.
"Investors are still worried about rising oil prices, which will add pressure to inflation," said Kenny Ko, a vice-president of Taiwan International Securities's proprietary trading department.
"Stocks will continue trending downwards before the violence in Libya eases and foreign investors stop dumping Taiwan stocks."
The main TAIEX share index rose 12.70 points to 8,541.64, recovering a little from a more than 3 percent loss in the previous two sessions.
Touch panel maker TPK was up 7 percent, its maximum daily limit. The firm plans to double 2011 capex spending this year on growing demand for smartphones and tablet PCs.
Rival Wintek was ended up 5.6 percent after tumbling the previous day on a report that Apple may delay the launch of the iPad2. However Apple is hosting a media event next week to show off the next-generation of the iPad, reassuring investors.
Chinatrust Financial Holdings Co Ltd, the biggest credit card issuer, gained 1.3 percent. The company said it planned to enter the private banking market at end of 2011, raising competition in a market already dominated by foreign banks such as Goldman Sachs Group Inc and UBS AG.
Foreign investors were net sellers of Taiwan stocks on Wednesday, their third straight net selling session this week.
That brought total net selling this month to about T$84.8 billion, almost cancelling out last month's T$99 billion of net buying and on course for the biggest monthly net sales since May 2010.
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