Taiwan stocks rise; Asia Pacific gains on stake sale to Hon Hai

Mon May 26, 2014 10:38pm EDT

TAIPEI, May 27 (Reuters) - Taiwan stocks rose 0.18 percent
in early trade on Tuesday, led by local wireless operator Asia
Pacific Telecom Co Ltd, which announced it would sell
a stake and eventually merge with a unit of Apple Inc 
supplier Hon Hai Precision Industry Co Ltd.
    As of 0225 GMT, the main TAIEX index was up 16.35
points at 9,052.47, largely in line with other regional and
global bourses and extending the previous session's 0.31 percent
gain.
    Asia Pacific Telecom rose 2.8 percent after announcing the
sale to Hon Hai, the world's largest contract manufacturer of
electronic goods, as part of the latter's move into
next-generation 4G wireless service. 
    Hon Hai fell 0.43 percent, trailing an overall 0.23 percent
gain in the electronics subindex.
    The Taiwan dollar was up T$0.048 to stand at
T$30.112 to the U.S. dollar.

 (Reporting by Michael Gold; Editing by Prateek Chatterjee)