Stocks climbed for a second day on optimism war in Iraq may end soon, bolstering consumer confidence in the US, the world's largest economy.
Taiwan Semiconductor Manu-facturing Co (TSMC, 台積電), United Microelectronics Corp (UMC, 聯電) and Au Optronics Corp (友達光電) led gains after newspaper reports that their sales or shipments rose last month.
The TAIEX rose 140.79, or 3.2 percent, to close at 4,499.18, it's biggest one-day jump since March 18. The benchmark added 0.5 percent this week. Nineteen stocks advanced for each one that fell.
MSCI Taiwan futures for April delivery in Singapore rose 3.3 percent to 192.30. The Taiwan Futures Index gained 3 percent to 4,469.
"The war between the US and Iraq seems to be making good progress," said Phil Chen, who helps manage the equivalent of US$145 million at Grand Cathay Securities Investment Trust Co (
The benchmark may rise to 6,000 this year, he said.
TSMC climbed NT$1.30, or 3 percent, to NT$45.20. Last month's sales jumped 14 percent from February, a local newspaper reported, citing no one. The world's biggest supplier of made-to-order chips had sales of NT$14 billion (US$402 million) last month, compared with NT$12.3 billion in February, it said.
UMC, the world's second-largest supplier of made-to-order chips, added NT$0.50, or 2.5 percent, to NT$20.30. The company had sales of NT$6.5 billion last month, the paper reported, citing no one. The company had sales of NT$5.4 billion in February.
Shipments at makers of flat-panel displays for personal computers such as Au Optronics were their highest ever, another local newspaper said.
Au Optronics, the world's No. 3 maker of flat-panel displays used in PCs, gained NT$0.80, or 4 percent, to NT$20.70.
Chi Mei Optoelectronics Corp (
Chunghwa Picture Tubes Ltd (中華映管) added NT$0.50, or 4.8 percent, to NT$10.85. Hannstar Display Corp (瀚宇彩晶) rose NT$0.40, or 4.2 percent, to NT$10.05. Quanta Display Inc (廣明電子) gained NT$0.50, or 4.3 percent, to NT$12.20.
Advanced Semiconductor Engineering Inc (
The company said it has invested US$15 million in a diode plant in China. Light-emitting diodes convert electricity to light and are used in digital displays.
The company applied to invest in light-emitting diodes, which Taiwan considers less advanced technology than chip assembly, to mask preparations for operating its main business in China.
Advanced Semiconductor declined to comment on the report.
Asustek Computer Inc (華碩電腦), the nation's largest maker of motherboards, rose NT$3.50, or 5 percent, to NT$73.50, its highest since Dec. 9.
Salomon Smith Barney Inc raised its recommendation on the stock to "outperform" from "underperform," citing higher projected sales this year, according to the brokerage's research report sent to analysts.
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