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To: DJBEINO who wrote (7103)	3/16/2000 12:12:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

UMC closed @ 96.50 -2.50 vol 93,756,999 2nd most active, low of 92.5 (I think A bottom has been reached) +++++++ Taiwan Stocks Rise as Govt Commits to Buy Stocks, TSMC, Hon Hai Lead Gains By Brett Cole and George Hsu Taiwan Stocks Rise on Govt Buying, Hon Hai, Asustek Lead Gains Taipei, March 16 (Bloomberg) -- Taiwan's key stock index rose, reversing losses that had put it on track for its worst five- day slide in almost six years, as the government said it started using a NT$200 billion ($6.5 billion) fund to buy shares. Gains by Hon Hai Precision Industries Co. lifted the TWSE Index 42.73, or 0.5 percent, to 8682.76, after it had fallen as much as 4.5 percent. At its lowest, the index was down more than 14 percent in five days, the biggest such slide since October 1996. Within the index, 263 stocks fell and 146 rose. Buying by institutional investors viewing the declines as a buying opportunity also lifted the index. ``I have 12 percent of my fund in cash and 88 percent in stocks, that's up from 80 percent to 85 percent two weeks ago,' said John Lin, who manages $330 million in Taiwan equities at National Investment Trust Co. Ltd. in Taipei. The index fell in early trading in the wake of yesterday's warning from Chinese Premier Zhu Rongji that China will never allow Taiwan's independence and will use military force if it stalls on reunification talks. This prompted Vice Finance Minister Yen Ching-chang, who manages the Taiwan's government fund, to tell the funds to buy stocks. In a statement broadcast on radio Yen said the government funds ``aims to restore investors' confidence.' ``Investors should remain rational and not let mainland China's talk influence us,' Yen said. Zhu told a press conference yesterday that China is prepared to make ``concessions' in talks with Taiwan if the winner of Saturday's presidential vote disavows independence. He also told voters to ``be vigilant' and said he understood their fears that a victory by ``pro-independence' forces could lead to war. Taiwan's three leading presidential candidates, Vice President Lien Chan of the Kuomintang, Chen Shui-bian of the Democratic Progressive Party and independent candidate James Soong, are locked in a virtual dead heat. The DPP has previously advocated independence, but has been toning down this stance. ``Even under the smoothest transition, there will inevitably be bumps and investors may demand an increased risk premium to hold Taiwan stocks for a period of time,' said Samuel Webster, a director of research at Credit Suisse Investment Consulting (Taiwan) Ltd. in Taipei.