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Taiwan's stocks rise, led by AU Optronics Corp

Stocks gained for the first day in four. AU Optronics Corp (友達光電) rose after it quadrupled its pretax profit forecast this year because of demand for panels used in notebook computers and desktop monitors.

The TAIEX added 33.24, or 0.6 percent, to 5259.07. Index futures expiring in August rose 0.7 percent to 5281. About the same number stocks gained and declined.

About 3.9 billion shares changed hands, 12 percent less than the average trading in the past three months. The value of trading was NT$92.3 billion (US$2.7 billion), 2.3 percent below the three-month daily average.

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world's largest maker of computer chips on a subcontracting basis, also gained. It said after the market closed that July sales gained.

TSMC said its July sales rose 31 percent from a year ago to NT$17.64 billion. Sales were NT$13.5 billion a year ago and NT$17.84 billion in June this year. The stock added NT$1.50, or 2.6 percent, to NT$60.

AU Optronics raised its pretax profit forecast to NT$10.5 billion (US$305 million) from NT$2.58 billion announced on April 24.

For the second quarter, AU Optronics had net income of NT$2.9 billion after posting NT$179 million profit for the first three months. AU Optronics rose NT$2.20, or 6.7 percent, to NT$34.90.
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