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To: StanX Long who wrote (64288)	6/11/2002 1:26:15 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

TSMC, UMC firmer on higher-than-expected May sales -- AFX - Asia, 6/10/2002 e-insite.net Taiwan Semiconductor Manufacturing Co Ltd and United Microelectronics Corp shares were firmer as higher-than-expected parent sales in May proved enough to offset the large sell-offs by foreign investors after Intel's profit warning on Friday, dealers said. On the other hand, it remains to be seen if the two wafer foundry houses will be adversely affected by concerns over a still weaker PC market over the remainder of the year, they said. At 9.55 am, TSMC was up 0.50 twd at 75.50 on volume of 32.42 mln shares and UMC was up 1.00 at 41.90 on 30.11 mln shares. The electronics sector was up 1.62 pct. The weighted index was up 70.53 points at 5,503.55, off a high of 5,514.69, on turnover of 24.21 bln twd. The Taiwan dollar was at 34.165/dollar, compared with the previous close of 34.159. Nomura Securities senior analyst Rick Hsu said the two wafer foundry houses came up with stronger-than-expected parent sales for May, reaffirming positive expectations of their solid momentum in the current quarter. "Without going into details, we may say TSMC and UMC should be able to attain or even exceed sequential rises of 20 and 50 pct, respectively, in second quarter sales." For April and May, TSMC posted combined parent sales of 28.57 bln twd, compared with 35.79 bln posted in the first quarter. UMC registered parent sales of 11.87 bln twd in April and May, compared with the 12.16 bln posted in the January-March period. On the other hand, Hsu said the recent severe correction in both TSMC and UMC must reflect fears of wafer demand being hurt by a still weaker PC market going forward into the third quarter.