UMC closed @ 81.50 +2.50 vol 73,585,642 the most active
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Aug 7 net purchase 9,138m shares
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TAIWAN WEIGHTED closed @ 7797.78 +81.79 (+1.06%)
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UMC rose 2.5 percent to NT$81.00. UMC, one of the world's largest chipmakers on a contract basis, said last week its net income in the second- quarter rose 62 percent to NT$12.07 billion. Chitung Liu, an analyst at UBS Warburg in Taiwan, revised higher his UMC profit forecast for 2000 by 27 percent to NT$41.17 billion. Liu has a ``buy'' recommendation on UMC shares.
The key index has dropped 24 percent from its record high of 10,393.59 on Feb. 18, a decline that some investors view as excessive.
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Taiwan Hot Stock: United Micro Higher After Nasdaq Gain
TAIPEI (Dow Jones)--Shares of chipmaker United Microelectronics Corp. (2303.TW) were up NT$0.5 ($1=NT$31.095), or 0.6%, at NT$79.5 on volume of 22.6 million shares at 0135 GMT Tuesday.
Investors chased the chip stock after Nasdaq's 2% rally Monday as Taiwan investors usually view Nasdaq as an indicator for local technology stocks, said analysts.
United Microelectronics bucked the main board's downward trend, with the main index down 20.13 points, or 0.3%, at 7695.86 as investors took profit on opening gains. |
