TAIEX rises after BenQ reports better mobile phone sales

The TAIEX rose yesterday, paced by cellphone makers such as BenQ Corp (明基電通) and computer-component manufacturers, on improved sales in January.

BenQ, the nation's largest cellphone maker, gained NT$0.4, or 1 percent, to NT$39.5 after it said January sales rose 13 percent from a year earlier to NT$8.2 billion (US$234 million).

Siliconware Precision Industries Co (矽品精密), the world's third-largest chip packager, rose NT$0.2, or 1.3 percent, to NT$15.9 after it said sales in January rose 8 percent to NT$1.9 billion.

"Some technology stocks with good scorecards have started to attract value investors," said Jessica Chen, manager of Fubon Securities Investment Trust Co's (富邦投信) NT$2.8 billion Precision Fund.

The TAIEX rose 5.89, or 0.1 percent, to close at 4,624.87. MSCI Taiwan futures for February delivery in Singapore rose 0.2 percent to 194.30. The Taiwan Futures Index rose 0.04 percent to 4637. More than one stock gained for every one that declined.

MediaTek Inc (聯發電子), the world's largest maker of chips for DVD players, fell NT$5, or 1.9 percent, to NT$256 after the company reported sales in January declined 6.5 percent to NT$2.9 billion from December.

Trading was NT$62.4 billion, or 28 percent below the daily average in the past three months.

AU Optronics Corp (友達光電) rose NT$0.7, or 3 percent, to NT$24 after a local newspaper reported a shortage in 17-inch flat displays nationwide. Makers such as Chunghwa Picture Tubes Ltd (中華映管) may raise prices of 17-inch displays, the report said.

Chunghwa Picture rose NT$0.5, or 0.4 percent, to NT$12.5.