Stocks rose for a second day, led by Taiwan Semiconductor Manufac-turing Co (TSMC, 台積電), on optimism the improving US economy will bolster demand in the second-half, increasing Taiwan's exports.
Computer-memory chipmakers such as Nanya Technology Corp (南亞科技) and Winbond Electronics Corp (華邦電子) gained as higher demand from personal-computer makers boosted prices of their products by 6.3 percent in six days.
"The worst is over for the US economy and that will gradually translate into stronger demand for computers and electronics in the second half," said Eddie Chiu, a fund manager at the First Global Investment Trust Co (
"Investors remain cautious because a recovery needs time and consumer spending at home remains sluggish," he said.
The TAIEX added 2.11 points to 4,740.45. About six stocks fell for every five that gained.
Turnover was NT$73.26 billion (US$2.11 billion).
The Taiwan Futures Index rose 0.2 percent to 4,732.
TSMC rose NT$1, or 1.7 percent, to NT$58.50. Nanya Technology, the world's fifth-largest memory-chip maker, rose NT$0.40, or 1.6 percent, to NT$25.60. Winbond Electronics rose NT$0.50, or 2.9 percent, to NT$17.90.
AU Optronics Corp (友達光電) dropped NT$0.10, or 0.4 percent, to NT$23.00. May sales fell 4 percent from a year ago to NT$7.4 billion (US$214 million), according to the company.
Fubon Financial Holding Co (
About 300 workers out of the 3,500 staff at TaipeiBank have accepted a so-called voluntary retirement offer, said Fubon chief financial officer Victor Kung (
"We do not have a target for cutting staff numbers," he said, declining to say how much the reduction program cost.
In August last year, the company said it expects reorganization costs, which include staff cuts costs, to rise as much as NT$1 billion (US$29 million) as it brings TaipeiBank under its fold.
Fubon forecasts to earn NT$15 billion this year, Kung said.
CMC Magnetics Corp (
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