TSMC drops on US jobs report, Winbond gains

Taiwan's key stock index fell, led Taiwan Semiconductor Manufac-turing Co (TSMC, 台積電), on concern higher-than-expected job losses in the US in November may damp expectations of a recovery in the largest economy.

Leaving the broad index mixed, Winbond Electronics Corp (華邦電子) and other computer-memory-chip makers rose on optimism semiconductor makers may turn to profits earlier than expected as chip prices rise closer to their cost of production.

The TAIEX Index fell 12.65, or 0.2 percent, to 5,321.28.

Within the index, 471 stocks rose and 72 fell, while 22 were unchanged. The total value of trade was NT$166.4 billion, almost three times the six-month daily average of NT$56.9 billion.

TSMC fell NT$4.50, or 5.1 percent, to NT$84. The biggest maker of made-to-order chips said sales in November fell 39 percent from a year ago and rose 7 percent from the previous month to NT$11.1 billion.

Winbond rose NT1.20, or 6.6 percent, to NT$19.30.

Nanya Technology Corp (南亞科技), the second biggest, rose NT$1.60, or 6.7 percent, to NT$25.50. Mosel Vitelic Inc (茂矽), the third biggest, rose NT$0.75, or 6.7 percent, to NT$11.90.

Companies that make up the Formosa Group, Taiwan's biggest industrial company, rose after HSBC Securities (Asia) Ltd upgraded Asia's chemicals industry to overweight from neutral on expectations of an economic recovery in the US and Asia in the third quarter next year.

Formosa Plastics Corp (台塑), the group's flagship company, rose NT$2.20, or 6.8 percent, to NT$34.60.

Nanya Plastics Corp (南亞塑膠) rose NT$1.70, or 6.6 percent, to NT$27.30.

Formosa Chemicals & Fibre Corp (台塑化纖) rose NT$1.60, or 6.9 percent, to NT$24.90.

Asustek Computer Inc (華碩電腦) fell NT$4, or 2.7 percent, to NT$145.50. Taiwan's largest maker of personal-computer motherboards said sales in November fell 15 percent from October to NT$7.9 billion.

Far EasTone Telecommunications Co (遠傳電信) rose NT$2.10, or 6.8 percent, to NT$33.10 after Taiwan's fourth-largest cellular operator's shares began trading on the Taiwan OTC Exchange.

United Microelectronics Corp (聯電) fell NT$3.10, or 6 percent to NT$48.40. The second-largest maker of made-to-order chips said sales in November rose about 2 percent from October to NT$4.8 billion.