Taiwan Semiconductor leads third day of gains

Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and Hon Hai Precision Industry Co (鴻海精密) led gains among exporters after a US job report showed the world's largest economy last month generated the most jobs in three years.

"The US economy has shown very impressive figures recently, fortifying investor confidence," Liu Juming, a fund manager at Fuhwa Securities Investment Trust Co (復華投信).

"Taiwan exporters will benefit directly as the result," he said.

The TAIEX jumped 109.74, or 1.7 percent, to 6,463.09. It has gained 3.6 percent since Thursday. Three stocks rose for every one that declined. Taiex Futures for delivery this month advanced 1.7 percent to 6,470.

About 8.5 billion shares changed hands, twice as much as the three-month daily average. Shares worth NT$167.6 billion traded, 89 percent above the three-month daily average.

TSMC, the world's largest maker of computer chips on a subcontracting basis that counts the US for three-quarters of its sales, rose 3.2 percent to NT$65.

Hon Hai Precision, the nation's largest electronics maker by sales, gained NT$3, or 2 percent, to NT$153. A US Labor Department report on Friday showed January's increase of 112,000 jobs was the most created in three years.

Cathay Financial Holding Co (國泰金控), the nation's biggest financial company, gained 2.7 percent to NT$57. The company's board on Friday approved a plan to set up a brokerage business.