UMC shares soar on capital plan

FEELING CONFIDENT The company said a decision to reduce capital would not negatively affect capacity expansion and the construction of a plant in Tainan

By Lisa Wang / STAFF REPORTER

Chen was cautious about upgrading UMC's investment rating, however. He said he still favored rivals Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), MediaTek Inc (聯發科) and Holtek Semiconductor Inc (盛群半導體) because of better fundamentals.

additional reporting by Bloomberg