Taiwan stocks rose 0.21 percent on Tuesday, paring losses during the session, as a weaker Taiwan dollar helped boost export-heavy technology shares such as AU Optronics and HTC. However, the world's top contract chip maker TSMC edged down 0.34 percent despite announcing an alliance with Intel.
The main TAIEX share index ended up 9.51 points at 4,435.34, recovering from a 3-week closing low hit in the previous session and a one-month intraday low earlier in the trade. Turnover was light at T$66.4 billion ($1.9 billion), lower than Tuesday's T$75.5 billion.
The electronics sub-index rose 0.91 percent, while shares of AU Optronics, the world's No 3 flat panel maker, and smartphone maker HTC gained 3.09 percent and 0.53 percent, respectively. Taiwan Semiconductor Manufacturing Co (TSMC) ended lower even after Intel said on Monday it would develop its low-cost Atom-based chips with TSMC for a range of electronics devices.
Shares of Cathay Financial, Taiwan's top listed financial holding firm, dropped 4.02 percent to a record low of T$25.05. The financial sub-index fell 0.56 percent, hitting a fresh record closing low at 459.76. PC stocks were hit after research firm IDC and Gartner both cut their 2009 forecast for PC shipment separately in Asia and globally.
Shares of netbook PC pioneer Asustek and rival Acer fell 0.47 percent and 0.33 percent, respectively. Shares of DRAM makers were mixed ahead of Taiwan government's announcement on its plan to help struggling DRAM companies later this week.
Shares of Taiwan's top DRAM maker Powerchip rose 1.33 percent but smaller rival Nanya Tech lost 0.33 percent. Shares of ProMOS jumped 5.93 percent on hopes its bondholders would accept the firm's offer to buy back bonds at a heavy discount.
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