Taiwan stocks rose as Taiwan Semiconductor Manufacturing Co (TSMC,
The TWSE Index rose for a third day, adding 27.75, or 0.5 percent, to 5,739.28, after earlier gaining as much as 3 percent.
On the index, 271 stocks rose, 200 fell, and 90 were unchanged. The total value of trade was NT$95.9 billion, 18 percent less than the daily three-month average. TSMC rose NT$2, or 2.4 percent, to NT$85.
Still, the gains were limited after an unexpected shortage of natural gas prompted the state-owned electricity supplier to cut power to industrial users Wednesday by up to 15 percent.
Taiwan is already suffering its worst drought in a decade, forcing government officials to ration water supplies.
"People are testing the waters after the recent rally, though psychologically, the water and power shortage are still worrying -- confidence is weak and investors are ready to buy or sell at the slightest bit of news," said Edward Su, who oversees the NT$3.9 billion (US$112.7 million) in equities at Barits Securities Investment Trust Corp (
He is buying computer-motherboard makers after recent declines. The TWSE Index has fallen 7.2 percent since the beginning of April, after rising 11 percent in the first quarter.
Advanced Semiconductor Engineering Inc (
Chunghwa Telecom Co (
Inventec Co (英業達) rose NT$1.1, or 3.7 percent, to NT$30.5. The maker of notebook computers and electronic dictionaries reported that sales in April rose 7.7 percent from a year earlier to NT$5.64 billion.
Powerchip Semiconductor Corp (
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