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Stocks up as leaders gain
STAFF WRITER
Friday, Apr 04, 2003, Page 11
Stocks led by Taiwan Semi-conductor Manufacturing Co (TSMC, 台積電) and the nation's largest companies, as US-led forces moved closer to Iraq's capital, fueling optimism the military conflict will end soon.
"A prolonged war is bad for the economy, so a quick end will win back confidence both in consumers and the markets," said Tan Choon Hoe, a director and fund manager at AIB Govett Asia Ltd in Singapore.
Tan declined to say how much he manages.
Asustek Computer Inc (華碩電腦) advanced after the Digitimes news-paper said one unit will boost shipments in the second quarter.
The TAIEX jumped 46.83, or 1.1 percent, to close at 4358.39 on turnover of NT$40.69 billion (US$1.17 billion). About three shares climbed for each one that fell.
MSCI Taiwan futures for April delivery in Singapore added 1.3 percent to 186. The Taiwan Futures Index gained 1 percent to 4338.
Uncertainties the war and the impact of SARS on the economy prompted short-term trading, analysts said.
TSMC, the world's biggest supplier of made-to-order chips, climbed NT$1.10, or 2.6 percent, to NT$43.90. Asustek gained NT$2, or 2.9 percent, to NT$70.
Compal Electronics Inc (仁寶電腦), the world's second-biggest maker of notebook computers, added NT$0.10, or 0.3 percent, to NT$35.60.
The company said sales in March rose 20 percent to NT$10.7 billion (US$308 million), a local newspaper reported, citing the company.
Sales the first quarter grew 26 percent to NT$30.5 billion from the same period a year ago, the newspaper said.
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