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To: DJBEINO who wrote (4944)	5/27/1999 1:41:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

STOCKWATCH: UMC -- 2 (gains also fueled by warrant lead: analyst) At 9:48 am, UMC was up 2.00 at 59.00 twd, off a high of 59.50, on volume of 59.62 mln shares. TSMC was up 2.00 at 121.50 on 26.00 mln shares and Acer Inc up 0.70 at 48. 90 on 66.87 mln shares. The electronics sector was up 1.65 pct. The weighted index was up 32.17 points at 7,458.80, off a high of 7,510. 42, on turnover of 45.15 bln twd. An analyst with a foreign house who requested anonymity said Grand Cathay Securities Corp's plan to issue call warrants on UMC shares also fueled interest in the stock. "The timing was just perfect. The company made quite a few favourable comments about itself and the wafer foundry industry ... and we also have a solid rebound on NASDAQ overnight." Further, semiconductor shares might be luring some laggard buying as it was high-yielding, high-priced electronics shares that dominated previous sessions, he said. "Investors dare to do some bargain-hunting now that the U.S. anti-dumping ruling against Taiwan's DRAM suppliers was in the open." Still, whether the current strength can prove sustainable for long will be determined by the companies' fundamental showing down the road, he said, adding: "May sales due by June 10 should serve as a useful indicator." This applies to cyclicals at large, as well, evidence of a further fundamental improvement will dictate if their current rebound can evolve into a medium-term upswing, he added. "With the financial sector pressured by corporate concerns, the broad market is likely to continue consolidating within the 7,300-7,700 points range in the near term." Mosel Vitelic was up 0.40 at 29.50 on 5.59 mln shares and Winbond 1.20 higher at 38.90 on 32.42 mln shares. ++++++++++++++++++++++++++++ UMC gains 15.62 mln twd on equipment sales to unit NFI TAIPEI (AFX-ASIA) - United Microelectronics Corp said it booked a capital gain of 15.62 mln twd from selling two sets of wafer-making equipment to its 47.34 pct held unit Nippon Foundry Inc for a combined 435 mln yen on March 31 and May 25. At 11:55 am, UMC was up 3.00 at 60.00 twd on 129 mln shares traded.