Sat, May 10, 2003 - Page 11 News List

Sales reports help boost TSMC, Quanta Computer

BLOOMBERG , TAIPEI

Stocks gained for the fifth day in six, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Quanta Computer Inc (廣達電腦) after they reported higher sales last month.

The TAIEX added 52.93, or 1.3 percent, to 4,244.18. The benchmark added 1.4 percent this week, its first weekly gain in three. About four stocks advanced for every one that declined. The Taiwan Futures Index climbed 1.4 percent to 4,224.

Quanta and TSMC are more competitive than rivals when economic conditions are unfavorable, according to some investors.

"The adverse economic climate will weed out marginal players in the industry, especially in the fast changing technology sector," said Eddie Chiu, who manages the equivalent of US$115 million in First Global Investment Trust Co's (元大投信) Hitech Fund.

"Only the strong players will survive in this brutal process," Chiu said.

TSMC gained NT$0.80, or 1.7 percent, to NT$47.50. The company said yesterday after the market closed that last month's sales rose 14 percent to NT$15.3 billion (US$440 million).

Quanta climbed NT$2.5, or 4.2 percent, to NT$62.50. The notebook computer maker said yesterday that last month's sales surged 77 percent from a year earlier to a record NT$20.6 billion.

EVA Airways Corp (長榮航空) fell NT$0.05, or 0.5 percent, to NT$11.15. China Airlines (華航) dropped as much as 1.6 percent before closing NT$0.10 higher, or 0.8 percent, to NT$12.50.

CMC Magnetics Corp (奇美電子) added NT$0.10, or 0.6 percent, to NT$17.30. It said sales last month rose 8.2 percent from a year earlier to NT$1.9 billion.

Formosa Plastics (台塑) climbed NT$2.5, or 5.9 percent, to NT$44.60 on news that it and other local plastic makers may raise their export prices next month amid tightening supply in China. Nan Ya Plastics Corp (南亞科技) rose NT$0.10, or 0.3 percent, to NT$32.80.

Winners

* TSMC gained 1.7 percent

* Quanta climbed 4.2 percent

* Formosa Plastics rose 5.9 percent

* CMC Magnetics Corp added 0.6 percent


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