Stocks gained for a second day yesterday, led by Taiwan Semi-conductor Manufacturing Co (TSMC, 台積電), after Lehman Brothers Holdings Inc said demand for chips used in wireless communications is improving.
Lehman Brothers analysts Daniel Niles and Joseph To upgraded makers of semiconductors for wireless communications, including Texas Instruments Inc, which was raised to "overweight" from "underweight."
"Taiwan Semiconductor will disproportionately benefit more in the industry recovery as its market leading position will give it an edge over others," said Celine Chiang (
The fund has gained 15 percent in the past 12 months, compared with the index's 2 percent advance.
TSMC makes some chips used in Texas Instruments' products.
The TAIEX added 26.88, or 0.5 percent, to 5,287.89. About five stocks gained for very six that declined. About 4.2 billion shares changed hands, 1.5 percent above the average trading in the past three months. The value of trading was NT$103.2 billion (US$3.5 billion), 18 percent above the three-month daily average.
TSMC rose NT$1, or 1.8 percent, to NT$57.50. United Microelectronics Corp (聯電) added NT$0.20, or 0.8 percent, to NT$24.70.
Fubon Financial Holding Co (
First Financial Holding Co (
The company will sell the shares in the form of global depositary receipts for the local currency equivalent of NT$17.5 to NT$17.75 apiece, the banker said. That's a discount to Tuesday's closing price of as much as 14 percent.
Novatek Microelectronics Corp (