Sat, Jul 02, 2005 - Page 11 News List

SinoPac Financial, AU Optronics lead gainers on bourse

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The TAIEX rose for a second day. Some financial companies advanced, led by SinoPac Financial Holdings Co (建華金控), after it agreed to buy International Bank of Taipei (台北國際商銀).

Exporters such as Compal Electronics Inc (仁寶電腦) fell after the US Federal Reserve raised interest rates for the ninth time in a year and signaled that more increases are coming.

The central bank raised its benchmark interest rate for a fourth successive quarter on Thursday to keep inflation in check as oil prices surge. The US is Taiwan's largest export market after China.

The TAIEX rose 30.20, or 0.5 percent, to 6,272.14 after falling as much as 0.8 percent. About five shares rose for every four that fell.

SinoPac, the nation's 10th-biggest lender, added NT$0.20, or 1.3 percent, to NT$16.10. SinoPac agreed to buy International Bank of Taipei, creating the country's eighth-largest financial holding company by assets. International Bank added NT$0.10, or 0.5 percent to NT$22.55.

China Development Financial Holding Corp (中華開發), the nation's fifth- largest financial services company, rose NT$0.15, or 1.2 percent, to NT$12.80. China Development Financial Holding Corp plans to acquire Taiwan International Securities Corp (金鼎證券), a Chinese-language newspaper reported on June 15, without saying where it obtained the information.

Compal Electronics, the world's second-largest notebook computer maker, fell NT$0.60, or 1.9 percent, to NT$30.85.

Powerchip Semiconductor Corp (力晶半導體), the nation's largest memory chip supplier, fell NT$0.25, or 1.1 percent, to NT$22.05.

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