Tue, Nov 30, 2004 - Page 11 News List

LCD makers lead the way as TAIEX ends slightly higher

AP , TAIPEI

Shares ended marginally higher yesterday, led by liquid-crystal-display (LCD) makers.

The TAIEX finished 6.61 points, or 0.1 percent, higher at 5,785.26 in dealings valued at NT$59.89 billion (US$1.88 billion).

Decliners outnumbered advancers 397 to 238, while 146 issues ended the day unchanged.

LCD maker Chunghwa Picture Tubes (中華映管), the most actively traded share of the session, closed 1.9 percent higher at NT$13.65. It had priced a convertible bond at a 54 percent premium over its closing share price on Wednesday.

AU Optronics Corp (友達光電), the world's No. 3 LCD screenmaker, rose 2.5 percent to NT$41.70, while smaller rival Chi Mei Optoelectronics Corp (奇美電子) gained 2.3 percent to NT$40.

Steel makers rose on hopes of higher domestic prices.

China Steel (中鋼) advanced 1.4 percent to NT$35.20. The nation's largest steel maker said on Thursday it would raise the price of its products sold to domestic clients by an average of 4.6 percent or NT$800 a tonne in the first quarter of next year from the current quarter.

Despite gains by flat-panel makers, the technology subindex dropped 0.2 percent, weighed down by the slide in shares of dynamic-random-access-memory companies. DRAM makers fell on lower spot prices.

Powerchip Semiconductor Corp (力晶半導體), fell 3.2 percent to NT$21.30, while peer ProMOS Technologies Inc (茂德科技) dropped 1.2 percent to NT$12.50.

The spot price of the most widely used DRAM chip fell 0.3 percent midday Monday to US$3.98. Analysts said the benchmark spot price may fall to as low as US$3.50 before the end of the year.

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