twn stocks0401

14:43 01Apr09 RTRS-Taiwan stocks rally 2 percent, DRAMs jump * Market up for 2nd day, extends solid gains in March * DRAM stocks rally after Taiwan Memory Co announcement * Financials gain on hopes of financial agreement with China * Acer up after fourth-quarter net profit rose (Adds details and quotes) By Gina Chang TAIPEI, April 1 (Reuters) - Taiwan stocks finished 1.99 percent higher on Wednesday, marking their biggest one-day gain in a week, with DRAM shares surging after Taiwan Memory Co (TMC) said it had chosen Elpida <6665.t> as its technology partner. The main TAIEX share index <.TWII> ended up 103.61 points at 5,314.45, its biggest single-day rise since March 25. The TAIEX extended its rise after marking a 14 percent gain for March, its best monthly gain in more than 7 years. Turnover was moderate at T$102 billion ($3 billion), higher than Tuesday's 94.2 billion. Shares of Powerchip <5346.two>, Nanya Tech <2408.tw> and ProMOS <5387.two> all jumped by their 7 percent daily limit, lifting the electronics sub-index <.TELI> by 1.41 percent. Taiwan Memory Co (TMC), a new computer memory chip firm supported by the government, said on Wednesday Japan's Elpida had been picked as its technology partner. [nTP104915] TMC also said Micron had expressed interest in working with it and that TMC would be looking for a "win-win" situation. However, a local newspaper on Wednesday cited Powerchip as saying it will not pass on to TMC the production capacity of its Rexchip joint venture with Elpida. "It will be quite difficult for TMC to include both Elpida and Micron as tech partners. How it's going to work out remains to be seen," said Karen Lin, a fund manager at Paradigm Asset Management Co. "TMC's announcement has no immediate impact on the sector's fundamentals. In the short term, we'll be focusing on the demand and supply of the sector." An upbeat comment by DRAMeXchange provided more optimism to the sector. The electronic components research firm said the memory chip market could see a supply shortage this year. [nLV325943] Financial shares tracked gains of U.S. peers and rallied on expectations over the potential signing of a financial service supervision agreement with China by mid-year. A local newspaper said a meeting between China and Taiwan's top negotiators for cross-strait affairs on closer economic ties could be brought forward to the end of April. The banking and insurance sub-index <.TFNI> advanced 3.38 percent. Cathay Financial <2882.tw>, the island's top listed financial holding firm, was up 3.43 percent. HOT STOCKS -- Acer Inc <2353.tw>, the world's third-largest PC brand, gained 3.92 percent after saying its fourth-quarter net profit rose but missed forecasts as revenue fell along with consumer and corporate demand for tech goods. [ID:nTP8028] -- LCD maker Chi Mei <3009.tw> closed limit-up and larger cross-town rival AU <2409.tw> rose 1.6 percent. Their advance came after media reported on Wednesday local LCD firms could benefit from financial problems at a rival Chinese firm. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day 1.99 percent Close on day 5,314.45 2009 intraday high 5,468.49 2009 intraday low 4,164.19 All time high 12,682.41 12 FEB 1990 ------------------------------------------------------------ For a table of foreign trading in Taiwan stocks, double-click on [ID:nTP170358] (US$1=T$33.8) (Editing by Dhara Ranasinghe) ((gina.chang@thomsonreuters.com; +886 2 2508-0815; Reuters Messaging:gina.chang.thomsonreuters.com@reuters.com)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS] OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU] DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary [WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts TOP NEWS: For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks <0#.index> Currency rates Dow Jones/NASDAQ <.DJI> <.IXIC> Nikkei <.N225> FTSE 100 <.FTSE> Debt <0#usbmk=> Taiwan dollar LME price overview TAIWAN MARKET: Taiwan equity mkt TAIEX <.TWII><.TV.TW> Other indices <0#.inx.tw> TAISDAQ <.TWOII><.TV.TWO> TAIMEX Taiwan index futures <0#tx:> MSCI Taiwan index <.MSTW> SIMEX Taiwan index futures <0#stw:> FTSE TW50 index <.FTSETW50> Keywords: MARKETS TAIWAN STOCKS
For Related News, Double Click on one of these codes:[Z] [E] [MF] [PSC] [RNP] [DNP] [PTD] [PMF] [TW] [ASIA] [STX] [EMRG] [LEN] [RTRS] [.TW] [.TWII] [.MSTW] For Relevant Price Information, Double Click on one of these codes:<.TWII> <.MSTW> Wednesday, 01 April 2009 14:43:20RTRS [nTP258049] {EN}ENDS