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14:48 15Jul09 RTRS-Taiwan stocks end up on U.S. earnings, TSMC gains * TSMC, Acer climb on strong Intel earnings * Financials up on strong Goldman Sachs performance * Analysts expect little movement for the rest of the week (Updates to close, adds details) TAIPEI, July 15 - Taiwan stocks rose 1.49 percent on Wednesday after a slew of strong earnings in the United States, with top contract chipmaker TSMC <2330.tw> leading gains on an optimistic outlook by chip giant Intel . The main TAIEX share index <.TWII> ended up 99.19 points at 6,738.60, its best daily gain since July 1. The index has gained more than 50 percent from a trough in March amid hopes for a fairly quick and decisive recovery in the global economy, making it the second best performing stock market so far this year among 30 tracked by Thomson Reuters. Turnover was active at just under T$140 billion ($4.2 billion), higher than Tuesday's T$97 billion, but some investors continued to stay away as they braced for more corporate results later in the week. "The (Intel) news was taken as a positive signal that the memory chip industry is about to recover," said Bevan Yeh, senior fund manager at Prudential Financial Securities Investment Trust. Taiwan Semiconductor Manufacturing Ltd Co jumped 2.1 percent, outperforming the broader electronics sub-index <.TELI>, which rose 0.8 percent. Intel and investment bank Goldman Sachs both reported better-than-expected results on Tuesday, helping to improve sentiment in global stock markets. [ID:nN14260734] [ID:nN14289399] Other Taiwan technology plays also gained, with the world's No.3 PC brand Acer <2353.tw> jumping 3.83 percent on strong growth in Intel's Atom chip, which powers Acer's highly successful low-cost netbook PC line. The broader computer and peripherals sub-index <.TCPI> was up 1.9 percent. This was in line with similar climbs in other technology stocks in South Korea and Japan, which also rallied after Intel said electronics demand was holding up in Asia. [ID:nSEO127171] Taiwan financials rose after Goldman's solid results, and on continued hopes that an upcoming agreement with China to open up their respective financial services sectors would be good for business. Top listed financial holding company Cathay Financial <2882.tw> rose 2.89 percent, outperforming the broader banking and insurance sub-index <.TFNI>, which advanced 2.28 percent. "Strong results from Goldman Sachs helped banking shares back onto their feet, offsetting worries over the delay of a China pact that many consider vital to Taiwan's economy," said Prudential's Yeh. Analysts said they believe most of the week's gains have already been priced into the market, and they expect the stock index to remain rangebound for the next few days. "I'm looking at a range of 6,500 to 6,800 this week," said Tom Tang, vice president at Masterlink Advisory. "I don't think it'll be easy for the index to go past 6,800 because of the light volume." ------------------------TAIEX IN PERSPECTIVE-------------------- Move on day 1.49 percent Close on day 6,738.60 2009 intraday high 7,084.83 2009 intraday low 4,164.19 All-time high 12,682.41 12 FEB 1990 ---------------------------------------------------------------- (Reporting by Joan Hsu; Editing by Kim Coghill) ((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 TW/IPOMENU 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 EQUITYPOLL1 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 ASIATODAY A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks 0#.INDEX Currency rates EFX=> <.IXIC Nikkei .N225> FTSE 100 .FTSE> Debt 0#USBMK= EURIBOR> Taiwan dollar TWD=TP> LME price overview RING=> TAIWAN MARKET: Taiwan equity mkt TW/MENU> 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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