Taiwan stocks end higher, tourism leads

Taiwan stocks finished up 0.87 percent on Monday, supported by commodities such as chemical issues after Western air strikes on Libya.

The main TAIEX share index rose 72.96 points to 8,467.71, after opening up 0.32 percent.

"Investors were very cautious and turnover was low. The index will face selling pressure above 8,500 points," said Jih Sun Investment Consulting Co analyst Kevin Chung.

Tourism shares were the top gainers, advancing 3.04 percent.

The chemical sub-index rose 2.29 percent, while the plastics sub-index firming 1.51 percent. Formosa Plastics Corp edged up 2.53 percent.

Food shares were the biggest laggards, with the sub-index ending down 0.3 percent.

Foreign investors were net sellers of T$8.3 billion ($280 million) worth of shares on Friday, expanding total selling to T$52.4 billion so far this month.

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Source = reuters