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Technology Stocks : Alliance Semiconductor

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Jul 10 5:00 PM EST

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To: donjuan_demarco who wrote (9063)	12/28/2000 10:57:58 AM
From: DJBEINO	of 9582

04:16 Taiwan UMC <2303.TW> details recent share buybacks TAIPEI, Dec 28 (Reuters) - Taiwan's United Microelectronics Corp (UMC) [`UMC], the world's second largest microchip foundry, said on Thursday it had bought back 26.946 million of its common shares from the stock market at an average price of T$45.13. The buyback cost UMC T$1.216 billion (US$37 million), it said in a statement. On Tuesday, UMC said it would buy back 400 million shares at between T$32 and T$78 between December 27, 2000, and February 26, 2001. The buyback made UMC the most actively traded issue on Thursday with volume of 137.773 million shares. UMC shares rose to their daily seven percent limit to T$48.30, compared with a 3.96 percent rise in the main TAIEX <.TWII> index. Under a new rule approved in August, listed companies are allowed to buy back their own shares when they believe prices have fallen to unreasonable levels. (US$ = T$33)

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