Quanta paces TAIEX rise on back of November sales

Stocks rose for a second day, paced by Quanta Computer Inc (廣達電腦), after a Chinese-language newspaper said the notebook-computer maker posted record sales last month.

The TAIEX added 36.49, or 0.8 percent, to close at 4,683.18. About the same number of stocks rose as fell. The total value of trade was NT$53.2 billion ($1.5 billion), the lowest since Oct. 14.

Quanta climbed NT$3, or 4.4 percent, to NT$72. November sales may rise from the previous month to a record NT$15 billion as the company began shipments to new customers such as NEC Corp and Acer Inc (宏電), the newspaper reported. Quanta had sales of NT$13.4 billion in October.

"I'm buying computer-related stocks," said Simon Chao, who helps manage NT$20 billion in stocks at President Investment Trust Corp (統一投信).

"The computer will be a very important product during the Christmas season," Chao said.

Acer rose NT$2.10, or 6.7 percent, to NT$33.30. The company said it plans to spend as much as NT$1.23 billion to buy back 30 million shares, or 1.5 percent of those outstanding, starting yesterday

for two months.

AU Optronics Corp (友達光電) gained NT$0.70, or 3 percent, to NT$24.10. Winbond Electronics Corp (華邦電子) rose NT$0.20 , or 1.2 percent, to NT$17.30.

Eva Airways Corp (長榮航空) fell NT$0.35, or 2.4 percent, to NT$14.55.

Hua Nan Financial Holdings Co (華南金控) fell NT$1.30, or 6.1 percent, to NT$20.10.