Taiwan stocks rose, led by Quanta Computer Inc (
The TWSE Index rose 55.49, or 1.1 percent, to 5164.73, after rising as much as 1.9 percent. Within the index, 385 stocks rose and 106 fell. The total value of trade today was NT$86.7 billion (US$2.5 billion), a 21 percent decline from Friday's NT$109.4 billion.
Stocks also got a boost from a report that the central bank may lower interest rates on Thursday by 12.5 basis points if the Taiwan dollar, which has declined with the yen, stabilizes.
"Liquidity could take Taiwan up to 6,000" by the end of January, said Christopher Wood, the Asian equities strategist at ABN Amro Asia Ltd.
Computer notebook makers rose after a government think tank said it expects Taiwan to be responsible for 58 percent of world output next year, about a 20 percent rise from this year's figures. The Market Intelligence Center (
Acer Inc (宏電) rose NT$0.50, or 3.1 percent, to NT$16.80. Compal Electronics Inc (仁寶電腦) rose NT$2.90, or 7 percent, to NT$44.50. Quanta rose NT$5, or 4.9 percent, to NT$108.
Banks gained on expectations the central bank will trim its key rediscount rate. Chinatrust Commercial Bank (中國信託銀行), the second-biggest lender by market value, rose NT$0.10, or 0.5 percent, to NT$20.10. Hua Nan Commercial Bank (華南銀行) rose NT$1.20, or 6.7 percent, to NT$19.10. United World Chinese Commercial Bank (世華銀行), the sixth biggest listed lender by assets, rose NT$0.40, or 2 percent, to NT$20.40.
Made-to-order chipmakers advanced, tracking their US peers higher, after the widely watched Philadelphia Semiconductor Index rose 2.6 percent on Friday after consumer confidence in the US rose more than expected.
Taiwan Semiconductor Manufacturing Co (TSMC,
Chunghwa Picture Tubes Co (中華映管) rose NT$1.60, or 6.6 percent, to NT$25.80, a 52-week high. The company expects prices for its 15-inch thin-film transistor liquid-crystal displays to increase by 2.2 percent to US$230 by year-end and prices for its 14.1-inch displays to gain 2.6 percent to US$195 by year-end.
Macronix International Co (
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