Markets

Taiwan stocks at 2-month closing high before long holiday

Published Updated

The main TAIEX index gained 12.61 points to end at 7,233.69, the highest since mid-November, while the financials sub-index shed 1.68 percent.

LCD makers, up 0.84 percent, and Hon Hai Precision Industry Co Ltd, which firmed 0.8 percent, were among the bright spots.

JP Morgan said first-quarter results at Hon Hai, a major supplier of Apple Inc, would be better than expected because of a surge in iPhone and iPad shipments, local media reported.

The Taiwan dollar firmed by T$0.048 to T$29.947.

Foreign investors were net buyers on Tuesday, bringing their total buying to T$24.538 billion this month.

The market will close from Thursday for 11 days and re-open on Jan. 30.

Copyright Reuters, 2012