Stocks rose as the TAIEX had its biggest gain in four weeks. Taiwan Semiconductor Manufacturing Co (TSMC,
Exporters such as Quanta Computer Inc (
The TAIEX rose 97.18, or 2.2 percent, to close at 4,476.17. For the week, the index rose 2.9 percent, its first weekly gain in three weeks.
MSCI Taiwan futures for March delivery in Singapore rose 3.6 percent to 191.80. The Taiwan Futures Index advanced 2.9 percent to 4,479.
More than 10 stocks rose for every one that fell. The value of trade was NT$70.5 billion (US$2 billion), 5.6 percent lower than the daily average in the past three months.
Royal Philips, Europe's largest consumer-electronics maker, will shed 1,600 jobs at its semiconductor unit, the Dutch company's most unprofitable business.
"The Philips news is positive and is lifting sentiment for the overall electronics group of shares," said Jim Chang (
"Philips is a big shareholder of TSMC, and because foundries are a high fixed-cost business, Philips may help boost capacity utilization at TSMC," Chang said.
TSMC rose NT$1.40, or 3.2 percent, to NT$45.50. Quanta rose NT$2, or 3.2 percent, to NT$64.50. Hon Hai rose NT$2, or 1.8 percent, to NT$116.50.
Asia Cement Corp (亞泥) rose NT$0.45, or 3.4 percent, to NT$13.75. The country's second-largest cement maker by market value said it plans to invest $44.1 million to set up a joint venture with a cement company in Hubei, China. Asia Cement also said it plans to sell a NT$1 billion secured bond. The company also plans to pay dividends of NT$0.50 a share.
Aurora Corp (震旦行) rose NT$0.40, or 3 percent, to NT$13.70. The retailer of mobile phones plans to add 130 shops to boost its outlets to 300 in the country this year, mainly through franchising, a local newspaper cited the company as saying.
Aurora wants to tap the domestic market that's forecast to grow as much as 15 percent to 7 million cellular phones this year.
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