Taiwan stocks rose 0.13 percent on Thursday, with chip makers recovering from early dips after Intel Corp's subdued outlook for PC sales and with smartphone maker HTC recovering further from a recent decline. The main TAIEX index rose 10.97 points to 8,717.14 after a see-saw session. It had its best one-day percentage gain in 11 months on Wednesday.
Investor sentiment over the tech sector was pressured by a weak shipment forecast from cellphone chip maker Qualcomm and a poor second-quarter result and gloomy forecast from Korea's Hynix. "Some of Taiwan's chip makers have cut their Q3 guidance. Intel's prospects are further evidence investors should not have high expectations about the sector," said Robert Hsieh, an assistant vice president of Shin Kong Financial's fund arm.
He forecast the broader market would trade between 8,450 and 8,850 points through July. HTC added 5.5 percent, bringing its rally to more than 12 percent in two sessions. The stock had plunged recently after it lost a preliminary ruling to Apple on patent right infringement.
Comments
Comments are closed.