May 8, 2014 / 2:16 AM / 3 years ago

Taiwan stocks rise; Asia Pacific soars on merger news

TAIPEI, May 8 (Reuters) - Taiwan stocks rose 0.1 percent on
Thursday, with Asia Pacific rallying after a source
told Reuters that Ting Hsin International Group and Foxconn
Technology have submitted rival bids to merge with the telecom
operator. 
    As of 0200 GMT, the main TAIEX index had climbed to
8,904.70, roughly in line with most regional bourses. 
    Asia Pacific, a small telecoms operator, soared 4 percent.
Hon Hai Precision, Foxconn's flagship unit and which
makes iPhone and iPad for Apple Inc, advanced 0.2
percent. Tingyi, the listed unit of Ting Hsin and a
major noodle maker in China, jumped 1.4 percent in Hong Kong
trading. 
    Among gainers, electronics shares were up 0.2
percent and financials rose 0.7 percent.
    The Taiwan dollar rose 0.133 percent to T$30.125
per U.S. dollar.

 (Reporting by Faith Hung; Editing by Subhranshu Sahu)

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