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TAIEX gains less than three percent on chip order news

Taiwan stocks rose for the first day in five, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after a government report showed that export orders increased for an eighth month.

Stocks also gained after a Chinese-language newspaper reported that Securities & Futures Commission halted a plan that would require employee stock bonuses to be accounted as a company expense.

United Microelectronics Corp (UMC, 聯電) rose NT$1.70, or 6.7 percent, to NT$27.10. In August, the world's second-largest supplier of made-to-order chips said it would for the first time give employees stock options to keep up with rivals.

TAIEX added 128.16, or 2.8 percent, to close at 4707.61. The index fell for the first week in three, slipping 2.2 percent, as Hua Nan Financial Holdings Co (華南金控) and other lenders slumped on concern slowing reforms of the nation's financial industry may damp an earnings recovery.

TSMC rose NT$3.10, or 6.6 percent, to NT$50.

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