Taiwan stocks rose, led by VIA Technologies Inc (
The TWSE Index rose 55, or 1.4 percent, to 3,900.62. Within the index, 386 stocks rose and 77 fell. The total value of trade was NT$51.2 billion (US$1.6 billion).
"Many people say VIA's third-quarter profit will be better than expected and October sales will improve," said Chiang Chih-hau, who manages NT$1.5 billion in bonds and stocks at Barits Securities Investment Trust Co (
VIA Technologies rose NT$4, or 4.9 percent, to NT$85 as some investors bet third-quarter profit will beat expectations and October sales will rise from September.
Taiwan's biggest chipset maker, which reports earnings tomorrow, may say net income in the three months to Sept. 30 fell 63 percent to NT$934 million, according to the average forecast of five analysts surveyed.
Banks rose after a Chinese language newspaper reported up to two lenders may be able to open a representative office in China before the end of the year.
Hua Nan Commercial Bank (華南銀行) rose NT$0.60, or 3.5 percent, to NT$17.60. United World Chinese Commercial Bank (世華銀行) rose NT$0.10, or 0.5 percent, to NT$20. Chinatrust Commercial Bank (中國信託銀行) rose NT$0.60, or 3.4 percent, to NT$18.10.
Mobile phone makers rose after Nokia Oyj predicted handset sales would rebound in the fourth quarter.
Compal Electronics Inc (仁寶電腦) rose NT$0.20, or 0.7 percent, to NT$28.40. Acer Communications & Multimedia Inc (明電) rose NT$1.70, or 6.8 percent, to NT$26.90. Arima Computer Corp (華宇電腦) rose NR$0.10, or 0.7 percent, to NT$13.85.
MediaTek Inc (聯發科技) rose NT$16, or 6.2 percent, to NT$273. Deutsche Securities Asia Ltd analyst John Leong raised the company's earnings per share target for this year by 18 percent to NT$17.50, and its target for next year by 2 percent to NT$18.90 as rising disk drive sales boost demand for the chipsets used to run them.
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