Apple Concept Stocks Extend Gains Amid Growing

Taipei (Antara Bali)  - Shares of companies in the Apple supply chain extended their momentum in Taipei Tuesday morning on optimism over their earnings outlook after Apple reported better-than-expected results in its fiscal first quarter, dealers said.

Many investors anticipate the U.S. consumer electronics giant will post even higher earnings in the current quarter with the release of the iPhone 4S in China and the targeting of the iPad3 launch for the quarter as well, they said.

As of 11:39 a.m., shares of Hon Hai Precision Industry Inc., which churns out iPhones and iPads from its broader global production base for Apple, were up 1.81 percent to NT$95.50 (US$3.23), with 65.25 million shares changing hands.

Casing supplier Catcher Technology had gained 3.91 percent to NT$186.00 and rival Foxconn Technology Co had risen 7 percent, the maximum daily increase allowed on the Taiwan stock exchange, to NT$116.00.

Integrated circuit packaging service provider Kinsus Interconnect Technology Corp. had also gained the maximum 7 percent to NT$96.00.

The benchmark weighted index was up 0.92 percent at 7,475.24.(IGT/T007)