Formosa Petro Limit Down

Taiwan stocks closed 0.66 percent higher on this Monday, Formosa Petrochemical Corp plunged 6.9 percent, 

the maximum allowed in a day, after reporting the seventh fire in a year at its flagship refinery over the weekend.      

The sister companies Nanya Plastics Corp and Formosa Chemicals & Fibre Corp all ended limit-down.        

The main TAIEX index were up 57.2 points, after opening down 0.16 percent, with machinery counters the top gainers.

The financial sub-index rose 2.95 percent, while electronics shares climbed 1.35 percent.