Thu, Dec 16, 2004 - Page 11 News List

TAIEX ends higher as tech shares set the holiday pace

AP , TAIPEI

Shares ended sharply higher yesterday, with technology issues setting the pace as the holiday season approaches, analysts said.

The TAIEX finished 92.93 points, or 1.6 percent, higher at 6,002.58. Volume more than doubled to NT$101.67 billion (US$3.13 billion) from NT$47.35 billion on Tuesday.

Advancers well outnumbered decliners 593 to 120, while 120 issues ended the day unchanged.

The upcoming holiday season played a part in yesterday's rise, dealers said. The next Lunar New Year falls on Feb. 9.

Shares in liquid crystal display makers soared on hopes flat-panel prices will rise as early as next month after months of decline.

Chimei Optoelectronics Corp (奇美電子) jumped 6.8 percent to NT$43.8, and Chunghwa Picture Tubes Inc (中華映管) rose 5 percent to NT$14.65.

AU Optronics Corp (友達光電), the nation's largest LCD maker, surged 6.9 percent to NT$46.20.

Taiwan Semiconductor Manufacturing Co (台積電), the world's largest contract chipmaker, added 3.5 percent to NT$49.80 after its American Depositary Receipts rose 0.8 percent overnight.

Global No. 2 United Microelectronics Corp (聯電) was up 1.5 percent at NT$20.30 on a 0.9 percent gain in its ADRs.

Powerchip Semiconductor Corp (力晶半導體), the nation's largest maker of dynamic random access memory chips, was up 3.8 percent to NT$24.50 on rising spot prices for the chips. Smaller rival Nanya Technology Corp (南亞科技) rose 2.1 percent to NT$24.70.

The financial subindex rose 0.8 percent, with Taishin Financial Holding Co (台新金控) up 1.4 percent at NT$29.50 and First Financial Holding Co (第一金控) 0.8 percent higher at NT$26.60.

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