Taiwan stocks rose 0.35 percent on Wednesday, with major tech exporters such as Hon Hai leading a rebound from a one-month low after the Dow Jones Industrials set another record high. The main TAIEX share index ended up 27.62 points at 7,903.04.
But soft turnover of T$88.58 billion ($2.7 billion) indicated that investors were closely watching the recovery strength in the technology industry. Topping the list of most active issues, Hon Hai Precision Industry Co, which supplies components parts to top vendors like Dell Inc, rose 5.42 percent, lifting the electronics sub-index 0.73 percent higher.
Up the production chain, United Microelectronics Corp (UMC), the world's second-biggest contract chip maker, gained 0.52 percent even after it posted worse-than-expected first-quarter profits on Monday. UMC is set to give guidance for the current quarter at an investor conference later in the afternoon.
Entie Commercial Bank jumped 3.86 percent after a local newspaper reported that the bank planned to sell a 60 percent stake to strategic foreign investors and the deal was set to be finalised in two weeks. The financial sector slipped 0.3 percent. Asustek Computer Inc, the world's top computer motherboard maker, gained 3.01 percent even after it forecast revenue to fall in the second quarter.
Comments
Comments are closed.