Fri, Nov 15, 2002 - Page 11 News List

Nanya Technology falls as TAIEX closes mixed

BLOOMBERG , TAIPEI

Stocks fell, led by Nanya Technology Corp (南亞科技), as investors are concerned about an oversupply after spot prices of computer-memory chips declined.

The TAIEX fell 6.21, or 0.1 percent, to close at 4,665.56. Trading was worth NT$96.8 billion (US$2.8 billion). About an equal number of shares rose as fell.

Nanya shed NT$1.2, or 4.4 percent, to NT$26.2. Spot prices of high-speed memory chips made by the nation's biggest supplier of the semiconductors fell by 3.8 percent, the largest drop since Aug. 9, according to DRAMeXchange.com, an online marketplace for the chips.

"Excess supply is a big question for the computer-memory chipmakers," said Jessica Chen, who manages NT$2.8 billion in the Precision Fund for Fubon Securities Investment Trust Co (富邦投信).

AU Optronics Corp (友達光電) rose NT$0.60, or 2.6 percent, to NT$24.1 after a Chinese-language newspaper here cited the company president as saying a slide in screen prices has halted.

"A recent decline in liquid-crystal display prices has boosted demand, so we expect panel prices to be stable and even rise in the near future," said Liao Kuo-feng, who manages Prudential Securities Investment Trust Co's (保誠投信) NT$400 million High-Tech Fund.

China Steel Corp (中鋼) fell NT$0.50, or 2.5 percent, to NT$19.5 after the steelmaker said it may buy as much as 10 percent of its shares from the government to help boost the stock price, chairman Kuo Yen-too said.

Sampo Corp (聲寶) rose NT$0.55, or 4.2 percent, to NT$13.8 after the consumer-electronics maker, 7 percent owned by Japan's Sharp Corp, said it boosted sales of large flat-screen televisions to become the world's fifth-largest supplier, a local newspaper reported.

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