Tue, May 27, 2003 - Page 11 News List

Quanta Computer, BenQ rise on China's SARS news


Stocks had its biggest gain in almost six weeks. Companies with factories in China, such as Quanta Computer Inc (廣達電腦) and BenQ Corp (明基電通), gained after the World Health Organization lifted its travel warning against Hong Kong and Chin's Guangdong Province.

The TAIEX rose 116.05, or 2.7 percent, to 4,465.57, its biggest one-day percentage gain since April 16. Only 22 stocks on the 608-member index declined.

The value of trade was NT$68.8 billion (US$2 billion), 47 percent more than the daily average in the past three months.

The Taiwan Futures Index jumped 5 percent to 4,444.

"The sentiment is that SARS is coming under control," said Aries Chou, who helps manage the equivalent of US$230 million in equities at Shinkong Investment Trust Co (新光投信).

"Keeping away doesn't mean the demand for computers, handsets, digital cameras and other electronics goods has disappeared," he said.

Chou likes computer-related stocks such as Asustek Computer (華碩電腦) and Quanta Computer.

Quanta Computer, the nation's largest notebook-computer maker, rose NT$1.50, or 2.3 percent, to NT$67. The company expects sales to rise as much as 50 percent this year, a local newspaper reported, citing no one.

BenQ, the nation's largest mobile-phone maker, added NT$1.20, or 3.2 percent, to NT$38.80.

Formosa Plastics Corp (台塑) rose NT$1.80, or 3.9 percent, to NT$48.40. It will spend NT$124.6 billion to expand its naphtha cracker complex at Mailiao later this year, group vice chairman Wang Yung-tsai (王永在) told reporters in Taipei after a meeting with Premier Yu Shyi-kun.

Nanya Technology Corp (南亞科技) rose NT$1.30, or 6.6 percent, to NT$21.10.

Prices of the most widely used computer-memory chips jumped 2.9 percent, the biggest gain in three weeks, boosted by the debut of Intel Corp's latest computer chip.

Big winners

* Quanta Computer added 2.3 percent to end at NT$67.

* BenQ rose 3.2 percent to finish at NT$38.80.

* Formosa Plastics gained 3.9 percent to close at NT$48.40.

* Nanya Technology jumped 6.6 percent to end the day at NT$21.10.

The spot price of the 256-megabit, 266-megahertz, double-data rate chip -- Nanya's main product -- climbed US$0.09 to US$3.15 on Friday, according to Taiwan-based DRAMeXchange.com, the operator of an online marketplace for semiconductors.

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