Sunplus leads the way as stocks end their losing streak

BLOOMBERG , TAIPEI

Sat, Jun 29, 2002 - Page 10

Stocks gained for the first day in five, led by Sunplus Technology Co (凌陽科技) after the designer of chips said next year's sales will rise almost a fifth from this year. Sunplus rose NT$5.50, or 6.8 percent, to NT$86.

The TAIEX added 81.95, or 1.6 percent, to 5,153.71 as more than 11 stocks rose for every two that declined.

The index fell 7.1 percent in the previous four days. The total value of trade was NT$57.5 billion (US$1.7 billion).

"With no negative news, the market's rebounding after the recent fall," said Kevin Hou, who manages NT$200 million (US$6 million) in stocks at Central Securities Investment Trust Co (中央國際投信).

AU Optronics Corp (友達光電), a maker of TFT-LCD flat panels, fell NT$1, or 3.1 percent, to NT$31.50 on reports the company's president, Chen Hsuan-bin (陳炫彬), said June shipments will fall from May.