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14:36 28Jul09 RTRS-Taiwan stocks close at 11-mth high; Hon Hai surges * Buoyant U.S., Taiwan data boosts exporters like Hon Hai * UMC up ahead of Q2 earnings on Wednesday * China Steel rises after price increases * Analysts say index due for correction (Updates indexes, quotes, details) TAIPEI, July 28 (Reuters) - Taiwan stocks ended up 1.62 percent on Tuesday, their best single day percentage rise in two weeks, as positive domestic and U.S. economic data fuelled buying of export-reliant shares such as Hon Hai <2317.tw>. The main TAIEX share index <.TWII> finished up 114.20 points at 7,142.63, its strongest close since August 15 last year. Turnover was active at T$154 billion ($4.7 billion) compared with Monday's T$112 billion, as a upbeat economic data and hopes for more solid earnings boosted investor sentiment. "Taiwan's stocks have finally caught up after lagging in the recent two-week run-up seen in the United States and other markets around the globe," said Alex Huang, a research director at Mega International Securities Co. "Upbeat economic data from both Taiwan and the United States also helped the stock market." Electronics giant Hon Hai led gains, surging 4.59 percent as bargain hunters scooped up the company's shares after it fell for five straight sessions. United Microelectronics Corp (UMC) , the world's second-largest contract chipmaker, also rose, climbing 1.82 percent on the prospect of better second-quarter earnings and on an improved outlook for the semiconductor industry. United Microelectronics Corp and its larger rival Taiwan Semiconductor Manufacturing Co Ltd <2330.tw> are scheduled to report their quarterly results on Wednesday and Thursday, respectively. Sentiment was also boosted by Taiwan's index of leading indicators gaining 1.8 percent in June, its fifth straight rise and a further sign that the export-led economy was recovering from recession. [ID:nTP114415] Surging home sales in the United States helped boost the construction sub-index <.TCOI>, which closed the session up 2.77 percent. Top gainers included real estate developer Hung Ching <2527.tw>, which surged by its daily 7 percent limit. Other gainers included China Steel <2002.tw>, Taiwan's top steel maker, which climbed 3.53 percent and was the market's third most active share by volume. Shares of China Steel jumped after the company said on Tuesday it would raise its domestic product prices by about 9 percent in September from July and August as demand picks up. [ID:nTPU001533] Taiwan stocks have risen more than 57 percent since the beginning of the year, and analysts warned that the index could be due for a correction soon. "We are still not seeing the volume that's necessary to push the index even higher, because I think some investors are waiting for more clues," said Mega Securities' Huang, who expects the index to trade between 7,010 and 7,200 points this week. HOT STOCKS -- Compal Electronics <2324.tw>, the world's No.2 contract laptop PC maker, rose 3.24 percent after a local newspaper reported the company had won a bid to make 20 million notebook PCs for Acer Inc <2353.tw> next year. [ID:nTP287121] --------------------TAIEX IN PERSPECTIVE-------------------- Move on day 1.62 percent Close on day 7,142.63 2009 intraday high 7,142.63. 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] (Reporting by Joan Hsu; Editing by Jonathan Hopfner) ((gina.chang@thomsonreuters.com; +886 2 2508-0815; Reuters Messaging: gina.chang.reuters.com@reuters.net)) ((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
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