Stocks gained for the first day in three yesterday, led by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and United Micro-electronics Corp (UMC, 聯電) after Applied Materials Inc had its first profit in a year and said orders this quarter will surge as customers upgrade plants.
Applied Materials, the world's biggest maker of computer-chip production equipment, chief executive Mike Splinter said business is improving worldwide, and chipmakers became noticeably more confident about demand last month.
"Applied Materials' latest report should fortify investor confidence in an industry recovery," said Phil Chen, a fund manager at Grand Cathay Securities Investment Trust Co (
The "semiconductor industry will surely benefit," he said.
The TAIEX added 52.69, or 0.9 percent, to 6,035.44. The Taiwan Futures Index rose 1.1 percent to 6,072. About twice as many stocks rose as fell. About 4.3 billion shares changed hands, 1.7 percent below the daily average in the past three months. Shares worth NT$93.8 billion traded, 4 percent below the three-month daily average.
TSMC gained NT$1, or 1.5 percent, to NT$67.50. Rival UMC rose NT$0.90, or 2.9 percent, to NT$31.50.
Taishin Financial Holdings Co (台新金控) rose NT$0.90, or 4 percent, to NT$23.60. Taishin plans to sell NT$10 billion (US$294 million) of subordinated bonds to local investors to boost its capital adequacy ratio.
Winbond Electronics Corp (
ProMOS Technologies Inc (
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