Taiwan Stocks Jump Most in Eight Months on China, Apple Optimism
- TSMC, Hon Hai drive gains after report on iPhone 7 production
- No immediate negative reaction to Tsai’s speech: KGI analyst
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Taiwan’s stocks jumped the most since September, led by technology shares, amid speculation the inauguration of the island’s president won’t disrupt the trade relationship with China and Apple Inc. orders for the iPhone 7 will be higher than estimated.
The Taiex index climbed 2.6 percent at the close in Taipei, the most among Asian equity benchmarks, to erase its losses for this year. More than 13 shares rose on the gauge for each that fell. Apple vendors Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co. were the biggest contributors to the gains after the iPhone maker asked suppliers to prepare production of a new version of its smartphones, according to an Economic Daily News report.