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14:29 27Jul09 RTRS-Taiwan stocks hit 11-mth high; UMC soars * Main index ended above 7,000 pts first time in 11 mths * UMC rose ahead of quarterly results * DRAM shares surge on hikes in product prices (Updates quotes, hot stocks; Adds details) TAIPEI, July 27 (Reuters) - Taiwan stocks rose 0.79 percent to end above 7,000 points for the first time in 11 months on Monday, with contract chip maker UMC <2303.tw> leading gains ahead of its quarterly results. The main TAIEX share index <.TWII> closed up 55.15 points at 7,028.43, finishing at its highest level since Aug. 29, 2008. Shares worth T$112.3 billion ($3.4 billion) changed hands, easing from T$149 billion on Friday. United Microelectronics Corp, the world's No.2 contract chip maker, soared 6.18 percent, outperforming the electronics sub-index's <.TELI> 0.92 percent gain. "Investors were bullish about UMC's outlook in the second half of this year," said Andrew Deng, an assistant vice president at Taiwan International Securities. UMC could have returned to the black in the second quarter thanks to growing demand, while bigger rival TSMC <2330.tw> probably made its largest profit in three quarters. (For preview of UMC's and TSMC's earnings, please double-click [ID:nTP35599]) Shares of TSMC ended up 0.7 percent. UMC and TSMC are scheduled to announce their quarterly earnings and give guidance on Wednesday and Thursday, respectively. Despite the gains, the broader market is expected to pull back because Taiwan stocks had risen more than 50 percent since the begining of this year, some analysts said. "My bet is that until there is a significant gain in U.S. stocks or optimistic outlook coming from major companies, the main index would trade at between 6,800 and 7,100 in the short term," said Tom Tang, a vice president of Masterlink Investment Advisory. Powerchip Semiconductor <5346.two> and ProMOS <5387.two>, Taiwan's No.1 and No.3 DRAM makers, both shot up by almost the 7 percent daily limit. The electronics sub-index <.TELI> jumped 0.92 percent. "Shares in DRAM companies rose today as a result of an increase in product price, but I'm not sure whether their stock momentum will be sustained as demand for DRAMs continues to be weak and competition still fierce," Tang said. --------------------TAIEX IN PERSPECTIVE-------------------- Move on day 0.79 percent Close on day 7,028.43 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] ((Reporting by Joan Hsu; Editing by Neil Fullick)) ((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
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