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TSMC gain leads stocks on TAIEX to a 15-month high
BLOOMBERG
Tuesday, Sep 09, 2003, Page 11
Stocks to a 15-month high yesterday. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) advanced after saying shipments would increase in the third quarter.
"The semiconductor sector is very vigorous and the momentum is unstoppable," said Barro Liao, who helps manage the equivalent of US$4.2 billion in stocks at Prudential Securities Investment Trust Co (保誠投信) in Taipei.
"We're very optimistic about semiconductor demand in the fourth quarter as well as for next year," he said.
The TAIEX gained 87.98, or 1.6 percent, to 5,727.01, its highest close since May 30 last year.
About stocks fell for every 10 that gained. Futures contracts for September delivery added 1.2 percent to 5,753. About 3.4 billion shares changed hands, 31 percent fewer than the three-month daily average. Shares worth NT$87.8 billion (US$2.6 billion) traded.
TSMC rose NT$3, or 4.4 percent, to NT$71.
The company expects sales growth to be at the high end of its 5 percent to 9 percent forecast made on July 24, spokesman Tzeng Jinnhaw (曾晉皓) said. He was repeating a statement made earlier by Elizabeth Sun (孫又文), an investor relations spokeswoman, in New York.
United Microelectronics Corp (UMC, 聯電) gained NT$1.60, or 5.7 percent, to NT$29.60.
Advanced Semiconductor Engineering Inc (日月光), the world's second-largest packager of computer chips, rose NT$1, or 3.8 percent, to NT$27.70. The company sold US$25 million more of bonds convertible into its shares, increasing the sale of such bonds to US$200 million, the sale's arranger said.
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