stock / 32.785/853/ +10.6

15:10 01Jul09 RTRS-Taiwan stocks at 1-mth high on China hopes * Property plays surge on Chinese investment hopes * Electronics such as Hon Hai up despite weak U.S. data * Analysts say investors beginning to look at LCD makers (Add details, indexes, quotes) TAIPEI, July 1 (Reuters) - Taiwan stocks ended up 2.28 percent on Wednesday to hit its highest close in nearly a month, as property shares such as Farglory <5522.tw> surged after the island said it would allow Chinese investors to apply for mortgages. The main TAIEX share index <.TWII> closed 146.81 points higher Wednesday, its strongest close on June 8. Turnover remained thin at T$106 billion ($3.2 billion), although it was higher than Tuesday's T$90.2 billion, as some investors stayed sidelined amid weak economic data out of the United States and Japan. [ID:nSP514345] Construction shares <.TCOI> were the day's top performer, climbing 5.22 percent, with real estate developer Farglory rising 5.53 percent as investors bet that Chinese money would help boost real estate prices. "Now that the Chinese, even the ones without resident permits, are eligible to apply for housing loans, real estate developers can look forward to a spike in housing sales," said Alan Tseng, a vice president at Capital Securities. Electronics shares also rose, showing resilience despite data out of the United States that showed consumer confidence there dropping, as investors bet that domestic demand in China could make up for some of that slack. Top electronics maker Hon Hai <2317.tw> was up 2.46 percent, contract laptop PC manufacturer Quanta <2382.tw> climbed to its 7 percent daily limit, leading the broader electronics sub-index <.TELI> up 2.24 percent. Shares of LCD makers also climbed after specialty glass maker Corning raised its forecast for second-quarter sales, citing strong demand for flat-screen televisions in China. [ID:nN30429602] AU Optronics <2409.tw> rose 2.81 percent, Chi Mei <3009.tw> was up 4.34 percent, while the broader optoelectronics sub-index <.TOPI> advanced 3 percent. However, analysts pointed out that the current rally in tech shares may not apply to all sectors, and that certain segments of the industry could perform better than others. "Investors are beginning to shift their attention away from the traditional electronics industry such as notebook component makers, and onto optoelectronics," said Capital's Tseng. (Reporting by Joan Hsu; Editing by Ken Wills) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS] OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU] DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary [WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts TOP NEWS: For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks <0#.index> Currency rates Dow Jones/NASDAQ <.DJI> <.IXIC> Nikkei <.N225> FTSE 100 <.FTSE> Debt <0#usbmk=> Taiwan dollar LME price overview TAIWAN MARKET: Taiwan equity mkt TAIEX <.TWII><.TV.TW> Other indices <0#.inx.tw> TAISDAQ <.TWOII><.TV.TWO> TAIMEX Taiwan index futures <0#tx:> MSCI Taiwan index <.MSTW> SIMEX Taiwan index futures <0#stw:> FTSE TW50 index <.FTSETW50> Keywords: MARKETS TAIWAN STOCKS
For Related News, Double Click on one of these codes:[E] [Z] [MF] [PSC] [RNP] [DNP] [PTD] [PMF] [TW] [ASIA] [STX] [EMRG] [REA] [REAM] [DBT] [LEN] [RTRS] [.TW] [.TWII] [.MSTW] For Relevant Price Information, Double Click on one of these codes:<.TWII> <.MSTW> Wednesday, 01 July 2009 15:10:49RTRS [nTP143824] {EN}ENDS