UMC (2303) closed @ 59.50 +3.00 vol 153,238,038 most active
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Jan 30 Net Purchase 17,712,000 shares
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TAIWAN WEIGHTED closed @ 5936.20 +143.70 (+2.48%)
Day's Range :5821.89 - 5992.43
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BUY UMC (2303 TT) for its strong strategic alliance. According to UMC, Singapore's Economic Development Board will take a 15% stake in UMC's 300mm fab in Singapore. EDB Investments Pte Ltd (EDBI), the Singapore Economic Development Board's investment arm, joins Infineon as a shareholder in the US$3.6 billion 300mm facility, in which UMC holds a majority stake. Groundbreaking for the fab, located in Singapore's Pasir Ris Wafer Fab Park, is scheduled for 1Q01 with initial equipment expected to be moved-in in 3Q02. In our opinion, UMC's strategy to build a 300mm fab in Japan with Hitachi and this project in Singapore will make UMC a leader in the 300mm fab era and strengthen its position in the global IC industry.
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Taiwan's TWSE Index advanced 143.70 to 5936.20, on expectations further cuts in U.S. rates will boost economic growth and demand for Taiwanese goods in the island's biggest export market
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- Taiwan's cabinet said on Wednesday it approved a proposal to add T$111.5 billion (US$3.5 billion) to the 2001 budget for public infrastructure projects in a bid to boost the slowing economy |
