Wed, Jan 12, 2005 - Page 11 News List

Reports of strong revenue growth push stocks higher


Shares ended higher yesterday, with flat-panel makers leading gains after reporting strong revenue growth last year, analysts said.

The Weighted Price Index of the Taiwan Stock Exchange finished 32.81 points, or 0.6 percent, higher at 5,975.66 in trading valued at NT$49.22 billion (US$1.53 billion). Advancers outnumbered decliners 458 to 251, while 183 issues ended the day unchanged.

"The main index and the tech sector were in a technical rebound today from last week's four-session decline, with flat-panel shares spurring buying interest," said Andrew Teng (鄧安瀾), a manager at Taiwan International Securities (金鼎證券).

Quanta Display Inc's (廣輝電子) revenue more than doubled to NT$58.2 billion last year from NT$27.2 billion in the previous year, according to a company filing posted on the Taiwan Stock Exchange Web site late Monday. Its shares rose 2.9 percent to NT$17.9 yesterday.

Chunghwa Picture Tubes (中華映管) finished 1.9 percent higher at NT$13.55.

It posted revenue of NT$77.86 billion for last year, up 44 percent from NT$53.92 billion a year earlier.

AU Optronics Corp (友達光電), Taiwan's largest flat-panel maker, rose 2.4 percent to NT$43.1 after its American Depositary Receipts rose 2.1 percent overnight.

Contract chipmakers fell on concerns Intel will offer a conservative outlook for this year when it releases its fourth-quarter results overnight, analysts said.

Teng said the benchmark index will likely consolidate between 5,900 and 6,030 today, taking cues from the US market, particularly the reaction to Intel's statements overnight.

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