Print

Mail

wiki links

Shares gain on TAIEX, led by TSMC on chip sales

Stocks rose for the first day in seven yesterday, led by computer chipmakers such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after an industry group said global semiconductor sales rose by almost a third in the first quarter.

The World Semiconductor Trade Statistics industry said on Monday that global chip sales rose 32 percent in the first quarter and reiterated sales will increase by more than 25 percent this year as demand for chips used in mobile phones and personal computer-related products increases.

The TAIEX jumped 158.38, or 2.6 percent, to 6,188.15, for its biggest advance since March 29. The gain snapped a six-day drop in which it fell 11 percent. Nine stocks gained for every one that fell. Taiwan Index futures due in May added 1.9 percent to 6,133.

TSMC, the world's largest supplier of made- to-order computer chips, rose 1.7 percent to NT$59. The company said last Friday that earnings and revenue will rise to a record this year as its plants run at capacity to meet demand.

United Microelectronics Corp (聯電) rose 2.4 percent to NT$30.20.

EVA Airways Corp (長榮) rose 7 percent to NT$14.60. The airline was boosted to "buy" from "hold" by Charles De Trenck, an analyst at Citigroup Inc's Smith Barney unit.

Nan Ya Plastics Corp (南亞塑膠), the nation's largest polyester maker, rose 2.3 percent to NT$45.40. It said sales last month rose 43 percent to NT$13.4 billion (US$402.1 million) from NT$9.4 billion.
This story has been viewed 2054 times.