Taiwan shares advance

Taiwan shares ended up on Thursday, reversing earlier losses, with technology stocks like microchip packager ASE supporting the broader index.
The main TAIEX index rose 0.5 percent to 7,361.45 points, and the electronics sub-index advanced 1.18 percent, while the banking and insurance sub-index also gained 0.23 percent.
Turnover was active at T$137.56 billion (US $4.3 billion). Taiwan's memory chip maker Inotera Memories Inc raised US $421 million in global depository share sale (GDR), according to a term sheet obtained by Reuters on Thursday.
Inotera shares rose 4.23 percent to T$37.00. Taiwan Semiconductor Manufacturing Co, the world's number one contract chip maker, edged up 0.15 percent after posting a 44 percent rise in April sales on Wednesday. Smaller rival United Microelectronics Corp dipped 1.41 percent.
Microchip packager Advanced Semiconductor Engineering Inc (ASE) helped the broader index, gaining 4.13 percent. Some traditional stocks continued to rise as investors shifted to firms like China Rubber, which gained the maximum 7 percent and was the second most actively traded company on the market.
Smartphone maker High Tech Computer (HTC), the most expensive stock on the market, reversed course from earlier profit taking and was up 2.65 percent to T$1,160.