Stocks rose, led by United Microelectronics Corp (聯電), after the US Federal Reserve cut its benchmark interest rate by half a percentage point, boosting the allure of equity investments.
The TAIEX climbed 32.64, or 0.7 percent, to 4,757.98 at the 1:30pm close in Taipei. More than three stocks rose for every two that fell. The total value of trade was NT$132.04 billion (US$3.81 billion), the highest since April 25.
The Fed cut borrowing costs by half a point to 1.25 percent, the lowest since July 1961.
"That'll boost the market for a few days,"said Alex Chou, who manages NT$500 million in stocks at Transcend Securities Investment Trust Co (
United Microelectronics, whose US customers include Texas Instruments Inc and Motorola Inc, rose NT$1, or 3.7 percent, to NT$28.10.
Profit at the supplier of made-to-order chips may rise after communications-chip makers such as Texas Instruments boosted orders, the a Chinese-language newspaper reported.
Chia I Industrial Co (
Chi Mei Optoelectronics Corp (
CMC Magnetics Corp (
The world's second-largest maker of recordable compact discs plans to raise prices in January after a price increase between September and November had no effect on rising orders from its largest customers, a Chinese-language newspaper reported, citing Andria Wong, a vice president.
* United Microelectronics + 3.7 percent
* Chia I Industrial Co + 2.5 percent
* CMC Magnetics Corp + 2.4 percent
* Macronix International Co + 6.3 percent
* Nan Ya Plastics Corp + 1.7 percent
* Chi Mei Optoelectronics Corp - 2.9 percent
International Commercial Bank of China (
Macronix International Co (
The maker of memory chips for electronic games said sales last month rose 5 percent from a year ago to NT$2 billion.
Nan Ya Plastics Corp (
The company received government approval to invest $18.5 million in a polyester plant in Kunshan, near Shanghai.
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