Stocks rose yesterday, pushing the TAIEX to a four-month high. Ex-porters such as Taiwan Semicon-ductor Manufacturing Co (TSMC, 台積電) gained after a survey showed US service industries expanded last month for a second straight month.
The Dow Jones Industrial Average closed above 9,000 for the first time since Aug. 22 on Wednesday after the survey boosted optimism that economic growth may accelerate in Taiwan's second-biggest export market after China.
"The latest indicators show the US economy is booming," said Celine Chiang (江宜津), who manages the NT$500 million (US$14 million) Chronicle Fund at Polaris International Securities Trust Co (寶來投信).
"Taiwan's investors are cheered up by the robust US stock market performance," she said.
The TAIEX rose 60.26, or 1.3 percent, to 4,738.34. That's the index's highest close since Feb. 7. More than four stocks gained for every one that declined.
The Taiwan Futures Index rose 1.4 percent to 4,725.
TSMC, which counts on exports to US for about three-quarters of its revenue, rose NT$1.5, or 2.7 percent, to NT$57.50.
United Microelectronics Corp (UMC, 聯電) rose NT$0.10, or 0.4 percent, to NT$23.80.
Nanya Technology Corp (南亞科技) rose NT$1.2, or 5 percent, to NT$25.20 after it yesterday said sales last month jumped 38 percent from a year ago to NT$2.2 billion on stronger demand.
E.Sun Financial Holdings Co (玉山金控) fell NT$0.30, or 1.9 percent, to NT$15.90. Cathay Financial Holding Co (國泰金控) and affiliated companies will gradually sell their more than 10 percent stake in rival E.Sun to end a failed alliance, a local newspaper reported, citing unidentified Cathay executives.
Cathay Financial rose NT$0.20, or 0.5 percent, to NT$40.90.
Sampo Corp (
Vanguard International Semiconductor Corp (
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