Wed, Sep 07, 2005 - Page 11 News List

AU Optronics' sales figures provide a boost for the TAIEX

AP AND AFP , TAIPEI

Shares rose yesterday, led by liquid-crystal-display (LCD) companies, after AU Optronics Corp (友達光電) released strong sales figures.

The construction sector outperformed the broader market following a report that the government is planning to remove building restrictions as part of a package of incentives for the industry, dealers said.

The TAIEX gained 41.36 points, or 0.7 percent, at 6,140.14.

AU Optronics said Monday its revenue last month was NT$20.14 billion (US$619.52 million), up from NT$11.19 billion in August last year.

Its stock rose 1.5 percent to NT$50.20, while Chi Mei Optoelectronics Corp (奇美電子) ended up 2.8 percent at NT$41.75.

"AU Optronics' strong August revenue refocused attention on the LCD sector," said Solomon Chang, a Yuanta Core Pacific Securities Corp (元大京華證券) manager.

"There are signs foreign institutional investors are buying the stock on expectations growing demand for LCD panels will boost share prices in the near-term," Chang said.

Smaller LCD firms also rose after Credit Suisse First Boston last week recommended investors buy second-tier flat-panel stocks, including Quanta Display Inc (廣輝電子), Chunghwa Picture Tubes Ltd (中華映管) and HannStar Display Corp (瀚宇彩晶).

Quanta Display was the most traded stock in yesterday's session. The share rose 2.5 percent to NT$12.30, while Chunghwa Picture Tubes gained 0.5 percent to NT$10.50 and HannStar added 1.2 percent to NT$8.60.

Cathay Real Estate Development (國泰建設) rose 4.35 percent to NT$14.40.

This story has been viewed 2776 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top