The TAIEX rose to a 21-month high in the first trading day since the market closed for the Lunar New Year holiday on Jan. 19.
Taiwan Semiconductor Manufacturing Co (TSMC) led gains on optimism fourth-quarter profit probably jumped six-fold as the global electronics industry rebounded from a three-year slump, according to analysts polled by Bloomberg News.
The TAIEX rose 114.92, or 1.8 percent, to 6,384.63, the highest since April 24, 2002. About seven stocks gained for every one that fell. The Taiwan Futures Index added 1.4 percent to 6,370.
The TAIEX Electronics Index was the biggest gainer as a group. Shares rose after Texas Instruments Inc, the world's biggest maker of semiconductors that power mobile phones, said it had a fourth-quarter profit of US$512 million as the company had its highest sales in three years.
About 6.1 billion shares changed hands, 59 percent above average daily trading in the past three months. Shares worth NT$140 billion (US$4.17 billion) traded, 67 percent above the three- month daily average.
``Many investors believe they will have better luck with stocks in the new year and bought shares on the first trading day,'' Simon Chao (趙永宏), who manages US$17 million at President Investment Trust Corp.
China Airlines gained NT$1.10, or 6.6 percent, to NT$17.80. Fourth-quarter profit jumped 49 percent after demand for travel recovered following the containment of the SARS virus and exports of consumer-electronic components rose, the company said on Jan. 19.
Profit climbed to about NT$1.29 billion in the last three months of the year, from NT$865 million a year earlier.
China Motor Corp rose NT$1, or 1.7 percent, to NT$61. Southeast Motor Co, a car-making venture between China Motor and the government of Fujian Province, plans to increase sales by 80 percent to as many as 150,000 cars this year in China, where total demand is forecast at 5 million vehicles, the company said on Jan. 20. Southeast Motor's sales last year rose to 83,533 vehicles from 47,068 in 2002.
D-Link Corp, a communications-equipment maker, gained NT$1.70, or 3.9 percent, to NT$45.30.
VIA Technologies shed NT$1.70, or 3.6 percent, to NT$46.
EVA Airways Corp rose NT$1, or 6.4 percent, to NT$16.60. Fourth quarter net income jumped to NT$1.84 billion from NT$566 million a year ago, helped by accelerating exports and the return of travelers after the containment of SARS, the company said on Jan. 19.
Sales climbed 6.8 percent to NT$19.1 billion, according to preliminary revenue figures on the Taiwan Stock Exchange Web site.
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