Wed, Nov 26, 2003 - Page 11 News List

TSMC leads gainers as export orders climb to record high

BLOOMBERG

Stocks rose yesterday, snapping a six- day losing streak, after the government said export orders climbed to a record last month and industrial production accelerated. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Hon Hai Precision Industry Co (鴻海精密) led exporters higher.

The TAIEX rose 39.60, or 0.7 percent, to 5,861.18. The Taiwan Futures Index rose 0.7 percent to 5,888. About four stocks fell for every three that gained. The value of trade was NT$79.5 billion (US$2.3 billion), 14 percent lower than the daily average in the past three months. Export orders rose 19.94 percent from a year earlier to US$16.14 billion, the Ministry of Economic Affairs said on Monday.

"Export orders growth is going strong," said Belinda Yu (于蕙玲), a fund manager at Jih Sun Securities Investment Trust Co (日盛投信).

TSMC rose NT$1.50, or 2.3 percent, to NT$65.50. Rival United Microelectronics Corp (聯電) gained US$90, or 3.1 percent, to end at NT$30.10. Hon Hai Precision rose NT$1, or 0.7 percent, to NT$138.

Winbond Electronics Corp. (華邦電子) rose US$20, or 1.3 percent, to NT$15.60. The computer-memory chipmaker may spend up to NT$1.28 billion buying back 80 million of its shares at between NT$13 and NT$16 apiece in the two months to Jan. 16. The company's board approved the share buyback yesterday, according to a statement to the Taiwan Stock Exchange.

Sampo Corp (聲寶) was down NT$0.30 at NT$15.10 as the stock failed to benefit from reports that it is expected to supply 50,000 plasma display panel TVs to China-based TCL International Holdings next year, with delivery slated from the second quarter at the earliest.

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