Taiwan stocks rose 0.5 percent on Tuesday, led by microchip heavyweight Taiwan Semiconductor Manufacturing Co Ltd (TSMC) after it posted solid sales for November. The main TAIEX share index was trapped in a tight range before ending up 40.30 points at 8,638.33.
Turnover was soft at T$86.23 billion ($2.7 billion), but higher than T$80.06 billion a day ago. But other technology rivals released a mixed bag of November sales and a bleak industry outlook could push cautious investors to the sidelines in the short term.
"Most sales figures were not good and I also don't expect any exciting numbers for December," said Chiang Chen-sheng, manager at Masterlink Investment Advisory. TSMC shares gained 2.6 percent after its November sales jumped 22 percent from a year ago, while Hon Hai Precision shares lost 0.3 percent.
Shares of chip designer Mediatek Inc dropped 2.9 percent amid worries over a shortage of parts. A local report said Deutsche Bank cut its target share price on Mediatek, citing growing competition in China's chip market. The electronics sub-index was almost flat but the financial sector rose 1.1 percent.
Chunghwa Telecom gained 1.1 percent after a local report said the firm was aiming to enter the market for the fourth-generation WiMax wireless standard through an investment in Global Mobile Corp, founded by Rosemary Ho.
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