Stocks rose for the first time in four days, paced by China Airlines Co (華航) and other companies that have been hurt by the spread of severe acute respiratory syndrome (SARS), after the Cabinet approved measures to defray business losses caused by the outbreak.
The plan, which must be approved by the legislature, involves spending NT$50 billion (US$1.4 billion).
``The government aid package may be enough to provide material relief to companies,'' said Barro Liao (廖國峰), who manages the US$52 million High-tech Fund at Prudential Securities Investment Trust Co (保誠投信).
"It certainly can boost investor confidence in the stock market," he said.
The TAIEX rose 60.82, or 1.5 percent, to 4,200.32. It had lost 9.3 percent in the previous three days. MSCI Taiwan futures for April delivery in Singapore climbed 2.4 percent to 181.10. The Taiwan Futures Index gained 1.7 percent to 4,195.
China Airlines jumped NT$0.60, or 5.4 percent, to NT$11.75.
EVA Airways Corp (
Quanta Computer Inc (廣達電腦), which makes notebook computers at a plant near Shanghai, advanced NT$1, or 1.6 percent, to NT$65.
Asustek Computer (華碩電腦), which makes more of its motherboards in China, added NT$1.50, or 2.3 percent, to NT$68.
Advanced Semiconductor Engineering Inc (
Delta Electronics Inc (台達電子), a maker of computer-power systems and chargers, surged NT$2.50, or 6.9 percent, to NT$39. Delta said first-quarter profit rose 39 percent to NT$1.1 billion after sales, reported earlier, jumped 78 percent to NT$10.2 billion. Delta's customers include Dell Computer Corp and Hewlett-Packard Co.
Formosa Plastics Corp (
ProMOS Technologies Inc (
With rise in freight rates on long-haul US-bound services, Evergreen Marine (長榮海運) rose NY$0.90, or 4.1 percent, to NT$22.90, while Yangming Marine Transport (陽明海運) advanced NT$0.20, or 1.3 percent, to NT$15.70.
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