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Taiwan stocks rise on upbeat export data, overseas gains
December 8, 2016 / 3:17 AM / a year ago

Taiwan stocks rise on upbeat export data, overseas gains

TAIPEI, Dec 8 (Reuters) - Taiwan stocks hit their highest in
nearly a month-and-a-half on Thursday tracking gains in overseas
markets and after data showed the island's exports in November
grew at their strongest pace in nearly four years.
    Taiwan's exports grew at a better-than-expected pace last
month as global retailers stocked up on the island's hi-tech
gadgets for the year-end shopping season, data issued after the
market closed Wednesday showed. 
    The main TAIEX index was up 0.9 percent at 9,350.50
as of 0243 GMT and hit its highest since Oct. 27. The index
closed up 0.1 percent in the previous session.
    The electronics subindex rose 1.1 percent, while the
financials subindex gained 0.9 percent. 
    Hon Hai Precison, which goes by the trade name
Foxconn, gained 1.8 percent. The company said on Wednesday it
was in early talks on potentially expanding manufacturing in the
United States, after Japan's Softbank Group Corp, which
has several business ventures with Foxconn, pledged a $50
billion U.S. investment following a meeting with President-elect
Donald Trump. 
    The Taiwan dollar firmed T$0.167 to T$31.735 per
U.S. dollar. 

 (Reporting by J.R. Wu; Editing by Amrutha Gayathri)

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