* Market hits near 1-mth closing high
* AU and Chi Mei lead tech shares higher
(Adds details)
TAIPEI, Feb 9 (Reuters) - Taiwan stocks rose 0.5 percent on
Monday to a near one-month closing high, led by LCD makers AU
<2409.TW> and Chi Mei <3009.TW> after they brought back workers
to some production lines that recently saw surges in new orders.
Taiwan's main TAIEX share index <.TWII> ended up 23.34 points
at 4,494.59, its highest finish since Jan. 14. The market also
got a boost from gains on Wall Street, where major indexes all
rose by more than 2 percent on Friday.
AU Optronics Corp
were the market's two most active stocks by volume, each rising
3.4 percent and 4.9 percent, respectively.
"It looks like their sales would recover after receiving some
rush orders, and we are positive on that," said SinoPac
Securities analyst Alvin Teng, who expects the TAIEX to test as
high as 4,800 points by March.
(Click on [ID:nTP92412] for story on rush orders)
Among other winners, chip heavyweight TSMC <2330.TW>
jumped 1.8 percent and its smaller rival UMC <2303.TW>
rose 1 percent, lifting the semiconductor sub-index <.TSII> up
2.1 percent.
"The rise was responding to the U.S. stock markets and we
think the worst probably has gone and corporate sales in Taiwan
will start improving significantly from the second quarter," said
Alex Huang, vice president at Mega International Securities.
However, DRAM stocks lost ground even after Taiwan's
economics minister told Reuters last Friday that the government
had up to $2 billion to bail out the island's struggling DRAM
sector. [ID:nTP120576]
Powerchip <5346.TWO>, Taiwan's top DRAM chip maker, fell 3.7
percent and ProMOS Technologies Inc slid 6.8 percent to its daily
limit as T$11 billion worth of its previously issued convertible
bonds will be due on Feb. 14.
Financials <.TFNI> lost 1.3 percent following a report that
Taiwan's government is studying the possibility of extending by
one year its policy to guarantee 100 percent of bank deposits,
which is set to expire on Dec. 31.
HOT STOCKS
-- Mediatek Inc <2454.TW>, Taiwan's top chip designer, jumped
6.9 percent to its daily limit after a report said six foreign
brokerages had raised their outlook for Mediatek after the firm
gave better-than-expected first quarter guidance last Friday.
Rival VIA Technologies <2388.TW> also went limit-up after a
report that a unit of VIA has received orders for CDMA 2000
handset chips for the China market.
For a table of foreign trading in Taiwan stocks, double-click
on [ID:nTP170358]
------------------------------------------------------------
Move on day 0.52 percent
Close on day 4,494.59
2009 intraday high 4,817.44
2009 intraday low 4,164.19
All time high 12,682.41 12 FEB 1990
------------------------------------------------------------
(US$1=T$33.6)
(Reporting by Baker Li, Editing by Jacqueline Wong)
((baker.li@thomsonreuters.com; +886 2 2508-0815; Reuters
messaging: baker.li.reuters.com@reuters.net))
ASIA-PACIFIC STOCK MARKETS:
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S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW]
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Monday, 09 February 2009 13:51:02RTRS [nTP304654] {EN}ENDS
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