Fri, Aug 22, 2003 - Page 11 News List

Evergreen and EVA lead as TAIEX rises to 15-month high

BLOOMBERG

Stocks advanced yesterday, with the TAIEX climbing to a 15-month high.

Evergreen Marine Corp (長榮海運) rose on a Chinese-language newspaper report that the government will lift its ban on direct cargo links between Taiwan and China before the presidential election in March.

The TAIEX gained 68.25, or 1.2 percent, to 5,611.86. That's the highest since May 31 last year. Turnover was NT$105.78 billion (US$3.08 billion).

Futures for August delivery rose 1.6 percent to 5,611. About three stocks gained for every two that declined.

Evergreen Marine gained NT$0.20 , or 0.9 percent, to NT$23.80. EVA Airways Corp (長榮航空), the nation's largest airfreight company, climbed NT$0.10 , or 0.8 percent, to NT$13.15.

Taiwan Semiconductor Manu-facturing Co (台積電) climbed NT$1, or 1.6 percent, to NT$64, adding to a six-day, 11 percent rally. United Microelectronics Corp (聯電) rose NT$0.80, or 3.2 percent, to NT$25.60.

Chinatrust Financial Holding Co (中信金控) rose NT$0.55, or 2.1 percent, to NT$26.50. Chinatrust is offering NT$11.7 billion worth of its own preferred and common stock to Grand Commercial Bank's (萬通銀行) shareholders in an attempted takeover of the rival lender.

Chinatrust will issue 407.5 million new shares to facilitate the offer worth NT$11.7 billion at the stock's closing price of NT$28.80 a share.

Chunghwa Telecom Co (中華電信) gained NT$0.40, or 0.8 percent, to NT$48.50. Second-quarter profit rose 4.8 percent after usage of the company's mobile-phone and data services improved.

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