Taiwan's key stock index rose, led by Hon Hai Precision Ind-ustry Co (
Leaving the broad market mixed, United Microelectronics Corp (UMC,
The TAIEX Index added 5.74, or 0.1 percent, to 5,871.28, after falling as much as 1 percent. Three stocks rose for every two that fell. The total value of trade yesterday was NT$178.7 billion (US$5.1 billion), down 6 percent from Wednesday.
"I expect an increase of 20 percent to 30 percent in orders for Taiwan electronics makers in 2002 versus 2001," said Pedro Tai, a portfolio manager of the Formosa Growth Fund at ABN-Amro Asset Management Taiwan Ltd, which manages US$120 million in Taiwanese stocks. "Investors still have an appetite for stocks."
The TAIEX Index has surged 70 percent since Oct. 3, the lowest close since Jan. 30, 1993.
Hon Hai rose NT$5, or 2.7 percent, to NT$189, its highest close since Sept. 27, 2000.
The maker of everything in a computer except chips said December sales rose 6 percent from November to NT$15.5 billion as more companies used Hon Hai to make their computer parts.
UMC fell NT$1.60, or 3.2 percent, to NT$48.90. Its US shares fell 1.4 percent to US$9.45 Wednesday. The second-biggest made-to-order chipmaker, said Wednesday after the market closed that December sales fell to NT$4.4 billion from NT$4.8 billion in November.
Taiwan Semiconductor Man-ufacturing Co (TSMC, 台積電), the biggest made-to-order chipmaker, declined NT$1, or 1.1 percent, to NT$90.50.
Memory chipmakers gained. Mosel Vitelic Inc (茂矽電子) rallied NT$1.40, or 6.9 percent, to NT$21.60. Nanya Technology Corp (南亞科技) gained NT$2.80, or 6.8 percent, to NT$43.90.
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