Taiwan stocks rebound; TSMC, Hon Hai up

TAIPEI, May 28: Taiwan stocks rose 0.91 percent on Monday, snapping a three-day losing streak, led by banking and tech heavyweights such as TSMC, but market sentiment remained cautious over concerns about the euro zone debt crisis.
The main TAIEX index closed up 64.37 points at 7,136.00, recovering from a nearly five-month closing low in prior session,
TSMC, the world’s top contract chipmaker, rose 2 percent, and Apple’s major supplier Hon Hai Precision was up 1.6 precent.
Heavily-weighted electronics shares rose nearly 1.1 percent and financial shares gained 1.3 percent.
The Taiwan dollar firmed by T$0.073 to stand at T$29.577.
Foreign investors were net sellers on Friday, bringing their total selling to T$99.238 billion this month.


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