Thu, Aug 21, 2003 - Page 11 News List

Semiconductor shares climb amid optimism on chips

BLOOMBERG

Stocks gained for a third day in four yesterday. Semiconductor shares such as Taiwan Semicon-ductor Manufacturing Co (TSMC, 台積電) and United Microelec-tronics Corp (UMC, 聯電) rose on optimism chip sales will climb.

The TAIEX rose 31.45, or 0.6 percent, to 5,543.61. About stocks gained for every that declined. Turnover was NT$86.2 billion (US$2.51 billion).

TSMC, the world's largest maker of computer chips on a subcontracting basis that counts the US for three-quarters of its sales, rose NT$0.50, or 0.8 percent, to NT$63, adding to a five-day, 9.7 percent gain.

UMC, the world's second largest, added NT$0.30, or 1.2 percent, to NT$24.80.

The book-to-bill ratio for orders made to North American companies for equipment used to make semiconductors last month was 0.97, indicating US$97 worth of orders were made for every US$100 in products billed, Semiconductor Equipment and Materials International said in a statement.

The ratio was 0.93 in June and 1.22 in July last year. A figure below 1 typically indicates a contracting market.

Chang Hwa Commercial Bank (彰化銀行) and First Financial Holding Co (第ㄧ金控) gained after the Ministry of Finance said it hired PricewaterhouseCoopers LLP to advise it on a sale of NT$88.5 billion (US$2.5 billion) of bad loans held by Chung Shing Bank (中興銀行), stepping up the nation's clean up of the industry.

Chang Hwa, the country's sixth-biggest lender by assets, climbed NT$0.30, or 1.8 percent, to NT$16.70. First Financial, owner of the nation's fourth-biggest bank by assets, rose NT$0.20, or 1 percent, to NT$19.80.

This story has been viewed 3184 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top