Taiwan's key stock index rose, led by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after the chipmaker's chairman said he expects a ``mild recovery'' in demand for semiconductors in the second half of this year.
The TAIEX rose 28.39 points, or 0.6 percent, to 4476.91. The index fell 1.2 percent in the week. Five stocks fell for every four that rose. The total value of trade today was NT$42.02 billion (US$1.2 billion), 44 percent less than the year-to-date average of NT$74.73 billion.
"TSMC's July sales were flat from June, an indication that sales have hit a bottom," said Chris Hsieh, an analyst at ING Barings Securities Ltd in Taiwan. "It's reasonable to expect demand will improve in the second half."
TSMC rose NT$3.50, or 5.4 percent, to NT$68.50. Morris Chang (張忠謀), the chairman of the largest contract chipmaker, said he expects global demand for chips to rise 10 percent to 15 percent for the next 10 years. TSMC said yesterday July sales were NT$8.6 billion compared to NT$8.5 billion in June. TSMC's American depositary receipts rose on the new by US$0.07, or 0.5 percent, to US$15.49 yesterday.
United Microelectronics Corp (UMC,
Acer Inc (宏電) fell NT$0.20, or 1.1 percent, to NT$18.50. The computer maker said yesterday July sales fell 18 percent from June to NT$5 billion.
ASE Test Ltd (
Computer notebook and motherboard maker Asustek Computer Inc (華碩電腦) fell NT$3, or 2 percent, to NT$149 after it said yesterday July sales fell 6 percent from June to NT$5.02 billion.
Delta Electronics Inc (
Quanta Computer Inc (
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