October 12, 2015 / 1:58 AM / 4 years ago

Taiwan stocks up on global markets, techs prime for earnings season

TAIPEI, Oct 12 (Reuters) - Taiwan stocks rose on Monday following markets overseas, with little direction seen at home after a long holiday weekend.

As of 0143 GMT, the main TAIEX index rose 1.2 percent, to 8,547.28, after closing down 0.6 percent last Thursday.

Taiwan’s financial markets were closed on Friday for a holiday.

The electronics subindex rose 0.9 percent, while the financials subindex gained 1.2 percent.

Key Taiwan tech firms are preparing to release their third-quarter results with chipmaker TSMC’s due on Thursday.

TSMC was up 0.7 percent, while assemblers for Apple Inc smartphones and other gadgets Pegatron and Hon Hai Precision were up 7 percent and 1.6 percent, respectively, on hopes demand for Apple gadgets will drive sales.

Hon Hai, whose trade name is Foxconn, said last Thursday that its sales in September rose nearly 11 percent from a year ago.

The Taiwan dollar firmed T$0.4 to T$32.450 per U.S. dollar. (Reporting by J.R. Wu; Editing by Biju Dwarakanath)

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