Tue, Aug 10, 2004 - Page 11 News List

TAIEX climbs; Acer and Lite-On higher on sales growth

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The TAIEX rose yesterday. Lite-On Technology Corp (光寶科技) and Acer Inc advanced after reporting sales growth last month.

The TAIEX gained 0.29 point, or 0.01 percent, to 5,399.45. About one share rose for each that fell. TAIEX futures for this month added 0.2 percent to 5,380. The TAIEX has lost 10 percent in the past two months partly on concern that demand in the US may slow amid disappointing earnings forecasts from US companies and surging oil prices.

Taiwan Semiconductor Manufacturing Co (台積電), the world's largest supplier of made-to-order chips, shed 1.6 percent to NT$43.30. The company reported after the market closed that July sales increased 31 percent from a year earlier to a monthly record of NT$23.2 billion (US$681 million).

United Microelectronics Corp (聯電), the world's second-largest supplier, slipped 0.5 percent to NT$21.90.

Transportation shares rose as crude oil futures in New York fell for a second day after a US jobs report Friday signaled growth in the world's biggest economy may be slowing, easing concern about fuel shortages.

Evergreen Marine Corp (長榮海運), Asia's largest container shipping company by fleet size, added 1.1 percent to NT$27.10. Yang Ming Marine Transport (陽明海運), the nation's second-biggest shipper by market value, gained 3.1 percent to NT$30.20. Acer Inc, the country's third-largest computer company by market value, added 0.4 percent to NT$45.30. It said sales in July rose 22 percent to NT$8.19 billion from NT$6.72 billion in the year earlier period. Sales fell from NT$9.9 billion in June.

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