Taiwan's stock exchange jumped higher on Monday as the country's main index, the TSEC, gained 2.62 percent.
Investors were buying high tech stocks and key members of Apple Inc. AAPL's supply chain after Taiwan's Economic Daily said that suppliers to the iPhone 7 device were told to prepare for a total production run of 72 to 78 million smartphones – the highest production target in around two years.
Barron's Asia, citing the report, noted that Hon Hai Precision Technology, also known as Foxconn will remain Apple's key assembler for the iPhone.
Hon Hai Precision's Taiwan-listed stock gained 4.59 percent early Monday.
Of note, Taiwan Semiconductor Mfg. Co. Ltd. (ADR) TSM saw its stock trade higher by nearly 4 percent early Monday morning. The stock's Taiwan-listed issue gained 3.70 percent during its trading session.
Other Taiwan-listed names also recorded large gains. Catcher Technology and Pegatron both gained nearly 10 percent, while Largan Precision gained 2.46 percent.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.