stock / 32.715 / 872 / -0.3

14:27 10Jun09 RTRS-Taiwan stocks rebound from 1-mth low, UMC jumps * Market bounces back from 1-month closing low * UMC jumps after May sales rose from April * ProMOS surges after plans to seek new biz opportunities (Adds details and quotes) TAIPEI, June 10 (Reuters) - Taiwan stocks ended 0.75 percent higher on Wednesday, rebounding from a one-month closing low the previous session, with UMC <2303.tw> leading gains after posting a 9 percent monthly increase in revenue in May. The main TAIEX share index <.TWII> closed 47.88 points higher at 6,462.27, recouping part of its 6 percent loss over the previous two sessions. Despite the day's gain, the TAIEX might continue its pullback through the end of June, when it will test 6,300 points, analysts said. An uptrend over the previous months had seen the TAIEX jump by about 52 percent since touching the year's trough in late January. Turnover was light at T$114 billion ($3.5 billion), lower than the T$159 billion recorded on Tuesday. United Microelectronics Corp (UMC) , the world's No. 2 contract chip maker, jumped 2.82 percent, outperforming the broader semiconductor sub-index's <.TSII> 2 percent advance. UMC's May sales fell from a year earlier, but marked its third straight month-on-month rise, the latest evidence of recovering demand for the company's technology products. [ID:nTP339885] (For Taiwan corporate sales in May, click [ID:nTP373722]) "UMC's sales results were within expectations," said Kevin Yang, a president at Paradigm Asset Management. "Orders at semiconductor companies could return to a normal pace in the second half of the year, and sales probably would be flat on a quarter-on-quarter basis." However, some analysts were less bullish. JPMorgan on Wednesday downgraded its rating on UMC to "neutral" from "overweight," due to weaker second-quarter sales and a dismal outlook into the second half of this year. [ID:nTP186826] UMC's larger rival TSMC <2330.tw> gained 3.74 percent after TSMC Chairman Morris Chang told Forbes magazine in an interview that orders received at his company during the last two months have exceeded the company's own expectations. Minutes before the market closed, Taiwan Semiconductor Manufacturing Co (TSMC) posted a 15.6 percent fall in May sales from a year earlier, but the result marked the third straight monthly rise. [ID:nTPU001443] ProMOS <5387.two>, Taiwan's third-largest DRAM maker, surged 7 percent to its daily limit after saying on Tuesday it was looking for strategic partners for new business opportunities, including making other semiconductor products. [ID:nTP129008] However, LED-related shares failed to get a boost from a local newspaper report that said companies in China will procure up to T$20 billion worth of LED lights from Taiwan within the next four to five months. "The PE (price-earnings) ratio of LED-related companies is too high. Besides, shares of these companies have also risen a lot recently," said Robert Hsieh, a vice president at Shin Kong Investment Trust. Shares of LED chip suppliers Epistar <2448.tw> and Formosa Epistaxy <3061.tw> dropped 6 percent and 4.4 percent, respectively. Financial shares were little affected by comments by the chairman of Taiwan's Financial Supervisory Commission that an expected memorandum of understanding (MOU) on the financial sector with China might not be signed by the end of June. The financial sub-index <.TFNI> rose 1 percent, led by Cathay Financial <2882.tw>, the island's top listed financial holding firm, which advanced 3.56 percent. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day 0.75 percent Close on day 6,462.27 2009 intraday high 7,084.83 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$32.7) (Reporting by Gina Chang; Editing by Ken Wills) ((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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