stock / dlr 32.898 / 938/ +6.6

14:29 13Aug09 RTRS-Taiwan stocks hit near 2-wk high on Fed, MSCI moves * Chinese Gamer, Prime View International gain on MSCI moves * Taiwan Cement falls despite promising outlook * Main index seen hovering around 6,800 next week (Updates indexes, add quotes, details) TAIPEI, Aug 13 (Reuters) -Taiwan stocks closed 1.97 percent higher on Thursday, thier biggest daily percentage rise in six weeks, boosted by upbeat comments from the U.S. Fed and MSCI adding Prime View International <8069.two> to its Taiwan index. The main TAIEX share index <.TWII> finished up 136.06 points at 7,034.96, a near two-week closing high. Turnover was light at T$124 billion ($3.77 billion), but higher than Wednesday's T$104 billion. Shares of Prime View International, which supplies flexible displays for electronic reading devices, gained 6.93 percent, while the electronics sub-index <.TELI> advanced 1.82 percent. Chinese Gamer <3083.two>, which was also added to MSCI's Taiwan index, jumped 3.13 percent. "The Federal Reserve's comments boosted market sentiment," said Bevan Yeh, a senior fund manager at Prudential Financial Securities Investment Trust. "But investors could still be wondering how fast and how steady the global economic recovery will be." The Federal Reserve said on Wednesday the U.S. economy was showing signs of leveling out and left its near-zero interest rate unchanged at the end of a two-day policy meeting. [ID:nN1272730] Major technology shares tracked gains on Wall Street. Taiwan Semiconductor Manufacturing (TSMC) <2330.tw> , the world's biggest contract chip maker and the market's most active stock by turnover, gained 1.9 percent. The banking and insurance sub-index <.TFNI> reclaimed some of the ground lost in the previous session, rising 2.88 percent. Shares of Cathay Financial <2882.tw>, the island's top listed financial holding firm, jumped 3.55 percent after a newspaper said Morgan Stanley had raised its target share price. Analysts said Taiwan stocks could hover around 6,800 points for the next two weeks, given the main index's recent rally. "Investors are relieved to see that recoveries in the world's two largest economies are picking up pace," said Karen Lin, a fund manager at Paradigm Asset Management. "But they will play it safe until more data and sales results convince them that the worst is over." HOT STOCKS -- Online game company Gamania Digital Entertainment Co Ltd <6180.two> rose as much as 1.8 percent by midday before ending up 0.68 percent. The company told Reuters it plans to launch new game titles and beef up its presence in China. [ID:nTP145252] -- Taiwan Cement <1101.tw> lost 0.27 percent after the company said it expected second-quarter net profit to surge more than 10 times from the first quarter as the effects of China's stimulus package kick in. [ID: nTP62035] ---------------------TAIEX IN PERSPECTIVE-------------------- Move on day 1.97 pct Close on day 7,034.96 2009 intraday high 7,142.63 2009 intraday low 4,164.19 All-time high 12,682.41 12 FEB 1990 -------------------------------------------------------------- ($1=T$32.9) 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.
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