Thu, Feb 24, 2005 - Page 11 News List

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AGENCIES

TAIEX gains on bargain-hunting

Shares ended up yesterday as local retail investors went bargain hunting for stocks in smaller companies, analysts said.

The TAIEX finished up 14.35 points, or 0.2 percent, at 6,121.52 in dealings valued at NT$76.67 billion (US$2.46 billion).

Stocks with a smaller capitalization, like chip-design firms, led other shares.

Semiconductor raw material provider Phoenix Precision Technology (全懋科技) rose 6.6 percent to NT$21, after lagging peers recently.

Chipset designer Silicon Integrated Systems Corp (矽統) rose 6.9 percent to NT$14.65 and rival VIA Technologies Inc (威盛電子) added 6.6 percent to NT$17.70.

Smaller companies that test chips for defects before packaging them in protective materials also gained. They were led by Powertech Technology Inc (力成科技), up 3.6 percent to NT$87.50.

Powertech's rival, Thailin Semiconductor (泰林科技), rose 5.5 percent to NT$24.80 on the Gretai market.

Fubon asks for probe

Fubon Financial Holding Co (富邦金控), the nation's No. 2 financial services group by market value, asked regulators to investigate a last-minute sell order which caused its stock to plunge by the daily 7 percent limit on Monday.

The company asked regulators to check if someone was trying to "manipulate its stock prices," Fubon said in a statement.

Shares of Fubon fell by the daily limit on Monday for the first time in more than two years after the stock was little changed in earlier trading. The shares rebounded by the 7 percent limit yesterday.

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