US stocks rose after semiconductor maker Intel Corp said business from computer makers has started to improve, encouraging investors that sales may pick up across the industry.
International Business Machines Corp, which reports profit later today, Dell Computer Corp and Compaq Computer Corp advanced. Texas Instruments Inc, whose chips are used in two-thirds of the world's cellular telephones, rose after posting results that beat scaled-back forecasts.
The NASDAQ Composite Index surged 80.44, or 4.2 percent, to 2,003.66. The Standard & Poor's 500 Index gained 14.14, or 1.2 percent, to 1,205.95. The Dow Jones Industrial Average climbed 93.76, or 0.9 percent, to 10,310.49.
The NASDAQ has rallied 22 percent since April 4, when it touched a year-to-date low, on optimism that the slowdown in technology profits may be waning. The Philadelphia Semiconductor Index has gained 32 percent since April 4.
Four stocks rose for every one that fell on the NASDAQ Stock Market, while more than three advanced for every two that declined on the New York Stock Exchange.
Intel rose US$3.05 to US$29.09. The No. 1 chipmaker reported first-quarter sales that beat reduced forecasts and said second-quarter sales will be better than some analysts expected as business from personal-computer makers started to pick up in March.
Advanced Micro Devices Inc, Intel's main competitor in microprocessors, surged US$2.10 to US$25.10 on Instinet. Dell gained US$1.57 to US$27.92. The No. 1 direct seller of personal computers has surged 51 percent this year. Compaq climbed 67 cents to US$19.
RULES BROKEN: The MAC warned Chinese not to say anything that would be harmful to the autonomous status of Taiwan or undermine its sovereignty A Chinese couple accused of disrupting a pro-democracy event in Taipei organized by Hong Kong residents has been deported, the National Immigration Agency said in a statement yesterday afternoon. A Chinese man, surnamed Yao (姚), and his wife were escorted by immigration officials to Taiwan Taoyuan International Airport, where they boarded a flight to China before noon yesterday, the agency said. The agency said that it had annulled the couple’s entry permits, citing alleged contraventions of the Regulations Governing the Approval of Entry of People of the Mainland Area into the Taiwan Area (大陸地區人民進入台灣地區許可辦法). The couple applied to visit a family member in
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
‘EXTREME PRESSURE’: Beijing’s goal is to ‘force Taiwan to make mistakes,’ Admiral Tang Hua said, adding that mishaps could serve as ‘excuses’ for launching a blockade China’s authoritarian expansionism threatens not only Taiwan, but the rules-based international order, the navy said yesterday, after its top commander said in an interview that the Chinese People’s Liberation Army (PLA) could blockade the nation at will. The object of Beijing’s expansionist activities is not limited to Taiwan and its use of pressure is not confined to specific political groups or people, the navy said in a statement. China utilizes a mixture of cognitive warfare and “gray zone” military activities to pressure Taiwan, the navy said, adding that PLA sea and air forces are compressing the nation’s defensive depth. The navy continues to
MISSILE MISSION: The Chungshan Institute of Science and Technology said it does not make policy, but would be glad to obtain certification to assemble the missiles The Ministry of National Defense-affiliated Chungshan Institute of Science and Technology is in the process of getting certified to assemble an additional 1,985 Stinger missiles on top of those from US arms sales, a senior defense official said yesterday. Washington is to send a team to Taiwan to evaluate the institute’s manufacturing capabilities and information security, said the official, who commented on condition of anonymity. The ministry initially bought 500 missiles for the army and navy, but later increased the order to 2,485 in response to an increase in Beijing’s military activities around the nation, and to meet the army’s urgent need
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