Stocks gained yesterday on expectation third-quarter earnings this week from companies such as Taiwan Semiconductor Manufac-turing Co (TSMC, 台積電) and Quanta Computer Inc (廣達電腦) are indicating growing demand for their products.
The TAIEX rose 116.90, or 2 percent, to 6,075.45. The
futures index added 2.2 percent to 6,130. About eight stocks gained for every three that declined.
About 5.2 billion shares changed hands yesterday, 24 percent above the average daily trading in the past three months. Shares worth NT$114.4 billion traded, 19 percent above the three-month daily average.
"The latest corporate profit reports showed there is no doubt computer related demand has improved significantly," said Barro Liao, a fund manager at Prudential Securities Investment Trust Co (保誠投信).
TSMC, the world's largest maker of computer chips on a subcontracting basis, said after the close of market that its net income soared to NT$15.2 billion in the three months ended Sept. 30 after more orders allowed the company to run its plants at near full capacity.
TSMC rose NT$2.50, or 3.8 percent, to NT$68.
Quanta Computer, the country's largest notebook computer maker, added NT$3, or 3.3 percent, to NT$93 after the company said profit in the first nine months rose 22 percent from a year ago.
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