twn stock 0113

14:45 13Jan2009 Taiwan stocks bounce from two-week low as TSMC gains

* Market ends a four-session losing streak
* TSMC jumps 5 pct on report of rising utilisation rate
* Tourism shares weaken despite passage of gaming law

(Adds quotes and details)
By Gina Chang
TAIPEI, Jan 13 (Reuters) - Taiwan stocks rose 1.8 percent on
Tuesday, recovering from a two-week intra-day low, as chip
heavyweight TSMC <2330.TW> boosted technology shares on a report
its utilisation rate could rise in February.
The main TAIEX share index <.TWII> ended up 78.5 points at
4,532.36, ending its four-session losing streak during which it
fell about 7 percent. Earlier on Tuesday, the index hit a low of
4,423.1, its weakest level since Dec. 29.
Taiwan Semiconductor Manufacturing Co (TSMC) , the
world's top contract chip maker and the most active share by
turnover, jumped 5.2 percent.
TSMC could see its utilisation rate rising to as much as 45
percent in February from 40 percent currently following a flurry
of orders from the likes of Qualcomm and Mediatek
<2454.TW>, a newspaper report said on Tuesday.
"TSMC's news helped lift the market higher today," said Tu
Jin-lung, chairman of Grand Cathay Investment Services.
"However, most news now we hear about is still very bad, so
we'll see if TSMC's utilisation rate really rises when it holds
investors conference next week," said Tu, who expected the market
to trade between 4,400-4,700 points this week.
TSMC is due to announce its fourth-quarter earnings and
outlook for the first quarter on Jan. 22.
Quanta <2382.TW>, the world's No.1 contract notebook PC
maker, rose 0.7 percent after a newspaper said the firm had
received orders to make Apple's new All-in-One iMac,
while Hon Hai <2317.TW> will make Apple's iBook.
Hon Hai, Taiwan's largest electronics gear maker, was up 3.2
percent, while the electronics sub-index <.TELI> rose 2.7
percent.
Among losers, the tourism sub-index <.THOI> fell 0.9 percent,
giving up early gains,