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To: DJBEINO who wrote (8065)	8/2/2000 8:44:27 AM
From: DJBEINO	Respond to of 9582

UMC's first half revenue reaches 50% of annual target Taipei, Aug. 1, 2000 (CENS)--United Microelectronics Corp. posted aggregate revenue of NT$43.75 billion in the first half of the year, accounting for 50% of its annual target of NT$88 billion, the world's second largest dedicated chip foundry said Tuesday. UMC said its net profit for the first six months amounted to NT$19.51 billion, accounting for 65% of its annual forecast of NT$30.03 billion. Earnings per share reached NT$1.79 during the same period, making the firm's EPS projection of NT$2.67 for 2000 a tangible target, UMC said in a press release. UMC, rival of Taiwan Semiconductor Mfg. Co., also said its gross profit stood at 44%-46% in the first quarter of the year and the ratio advanced to 48% in the second quarter. With improved product quality at two of its new wafer foundries and a possible hike in foundry services, the company's gross profit is likely to increase to 50% in the second half of the year, it said. Given its strong performance during the first half, UMC has the potential to generate an EPS of NT$3 to NT$4 in 2000, analysts predict.

To: DJBEINO who wrote (8065)	8/2/2000 8:54:57 AM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

Morgan Stanley won't downgrade Taiwan stocks Taipei, Aug. 1, 2000 (CENS)--Morgan Stanley Dean Witter will not consider lowering its ratings of Taiwan's stocks, despite the recent weakness of the local bourse, an analyst of the Taipei branch of the U.S. investment bank said Tuesday. Based on expectation of the profitability for the coming year, the current price/ earning (P/E) ratio of the local stock market has reached the lowest level in 12 years, with the main index hovering between 7500 and 7600 points, said Ho Tsu-wen, chief analyst of MSDW Taipei. The main index of the Taiwan Stock Exchange, or Taiex, dropped to an intraday low of 7723 late last week which was very close to MSDW's prediction of the 12-year low, Ho said. In recent years, such low levels have only occurred once during the missile crisis in 1996 and another in late 1998 at the end of the regional financial crisis, Ho noted. The Taiex benchmark price index fell 130.27 points, or 1.6%, to 7994.65 Tuesday. The risks for buying stocks at such level are rather limited, Ho said, adding that he expected local share prices will rebound shortly following the recent support-buying by the government funds and coordinated efforts by related government agencies. The recent falls of the local stocks were due to a lack of confidence, worries over cross-strait relations and discords over financial polices among related government agencies, though Taiwan's exports and industrial production remain robust, Ho said.