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Taiwan stocks rise; HTC, electronics gain
February 26, 2014 / 2:10 AM / 4 years ago

Taiwan stocks rise; HTC, electronics gain

TAIPEI, Feb 26 (Reuters) - Taiwan stocks advanced 0.39
percent on Wednesday morning, boosted by electronics and
smartphone maker HTC Corp in particular, which surged
6.06 percent.
    The main TAIEX index rose 33.35 points to 8608.97 as
of 0202 GMT, ahead of most regional and global peers and
extending the previous session's gain of 0.18 percent.
    The electronics subindex saw a 0.45 percent rise,
led by struggling smartphone vendor HTC, which returned to
investors' favour after launching two new mid-priced models at
the Mobile World Congress in Barcelona.
    The computer and peripheral equipment subindex also
notched a 0.66 percent gain.
    Yuanta Financial, the parent of Taiwan's biggest
brokerage firm, fell 0.31 percent. On Wednesday it said it would
bid for a controlling stake in a South Korean securities firm
. Its stock price decline trailed an overall 0.1
percent rise in the banks and insurance firms subindex.
    Construction was among the biggest laggards, falling
0.42 percent. On Wednesday local media reported that Taiwanese
authorities were considering extending a tax increase to the
real estate market.
    The Taiwan dollar was up T$0.045 to stand at
T$30.357 to the U.S. dollar.

 (Reporting by Michael Gold; Editing by Gopakumar Warrier)

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