twn stock / 33.040 / 1032 / +4.8

14:29 08May09 RTRS-Taiwan stocks at 8-mth high, but financials fall * Market up 17 percent since last Thursday * Mediatek up after April sales rises * TSMC, UMC fall ahead of April sales results * Financial shares down after Wall Street declines (Adds details and quotes) By Gina Chang TAIPEI, May 8 (Reuters) - Taiwan stocks inched up 0.17 percent on Friday in active trade to a fresh eight-month closing high, as tech shares including Mediatek <2454.tw> rose, offsetting profit-taking in financials after a recent rally. The main TAIEX share index <.TWII> edged up 11 points at the close to 6,583.87, as it climbed for a seventh straight session to its highest finish since Sept. 8, recording its longest winning streak in more than 2 years. The index has surged 17 percent since last Thursday on expectations of an influx of Chinese investments, and has climbed 43 percent so far this year, far outpacing regional markets in Hong Kong, Singapore, South Korea and Japan. Turnover was active at T$197.9 billion ($6 billion), but lower than the 14-month high of T$243.3 billion recorded on Thursday. The electronic sub-index <.TELI> finished up 0.84 percent, with chip designer Mediatek <2454.tw> up 0.38 percent after its April sales rose from a month ago. [ID:nTP208805] "U.S. stocks slid overnight and prompted many local investors to cash in profits from the recent rally early in the session," said Wang Kao-hsiung, president of KGI Securities. "But that won't hurt the market's momentum. Hopes of Chinese investments and some signs that Taiwan's economy is recovering could continue to push the market further." Wang expects the market to trade between 6,200-6,650 points next week. TSMC <2330.tw> , the world's top contract chip maker, fell 0.35 percent. Minutes before the market closed, TSMC said its April sales fell from a year ago but improved from March due to rising demand. [ID:TPU001358] TSMC's smaller rival UMC <2303.tw> lost 2.1 percent ahead of its April sales later in the day. Compal Electronics <2324.tw>, the world's No. 2 contract laptop PC maker, ended flat after it revised upwards its shipment forecast for the second quarter. [ID:nTP274192] Among the drags, the financial sub-index <.TFNI> fell 1.79 percent, following a 27 percent jump over the previous five sessions. Cathay Financial <2882.tw>, the island's largest listed financial holding firm, dropped 4.02 percent. Chinatrust Financial <2891.tw>, Taiwan's top credit card issuer, recouped early losses to end flat. The firm said on Thursday it was open to China banks investing in the firm and planned to form a subsidiary in China. [ID:nTP291673] Shares of Yuanta Financial <2885.tw>, parent of Yuanta Securities, fell 2.56 percent and Taishin Financial <2887.tw>, parent of Taiwan Securities, slid 4.37 percent. They declined even after a report said the boards of Yuanta Securities and Taiwan Securities planned to announce a merger between the two firms next week, making it the first tie-up between securities houses under local financial holding firms. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day 0.17 percent Close on day 6,583.87 2009 intraday high 6,628.54 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$33.0) (Editing by Jacqueline Wong) ((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. 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