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Stocks advance, led by United Microelectronics

Stocks rose for a third day, with Acer Inc leading gains among computer-related shares, after a Chinese-language newspaper reported the nation's biggest desktop computer maker may raise its full-year profit forecast.

The TAIEX rose 24.16, or 0.4 percent, to 5,715.95, adding to the 3.1 percent gain in two days. The futures contract for September delivery rose 0.7 percent to 5,755. About six stocks declined for every five that gained.

About 3.7 billion shares changed hands, or 24 percent below the average volume in the past three months. Shares worth NT$84 billion (US$2.5 billion) were traded.

Acer may increase its earlier full-year profit forecast of NT$6 billion (US$176 million) after it booked NT$3.7 billion from selling shares in BenQ Corp (明基電通) and other affiliates, the paper reported.

Acer rose NT$1, or 2 percent, to NT$51. United Microelectronics Corp (聯電), the world's second-largest contract chipmaker, rose NT$0.70, or 2.5 percent, to NT$28.80. Rival Taiwan Semiconductor Manufacturing Co (台積電) closed down NT$0.50 at NT$67.00.

Chipmaker ProMOS Technologies Inc (茂德科技) was up 5.2 percent to NT$16.2, despite German chipmaker Infineon Technologies AG saying on Monday it had sold off the last of its 30-percent stake in the Taiwanese company. ProMOS's gains were seen as a sign of investor confidence that a turnaround is imminent for the long-stagnant DRAM sector.

Nan Ya Plastics Corp (南亞塑膠), Taiwan's largest polyester maker, gained as much as 2.1 percent before closing unchanged at NT$42.30.
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