Taiwan shares close up by 1 pct., post two-year intra-session record high
CNATaipei--Taiwan shares were boosted by a rebound in United States markets on Friday, hitting a more than two-year intra-session high before closing nearly 1 percent higher Monday, dealers said.
December 10, 2013, 12:25 am TWN
The weighted index of the Taiwan stock exchange followed gains posted by key U.S. indexes last Friday on better-than-expected job market data, a CTBC Investments analyst said.
The benchmark TAIEX closed up 76.90 points, or 0.91 percent, at 8,444.62 on turnover of NT$82.69 billion (US$2.8 billion), after moving between 8,433.81 and 8,477.87, its highest level since Aug. 5, 2011.
Taiwan Semiconductor Manufacturing Co. (台積電), the stock with the heaviest weighting on the local bourse, rose 1.94 percent to NT$105, while Hon Hai Precision Industry Co. (鴻海精密), the second heaviest weighted stock, gained 1.40 percent to NT$79.60.
The turnover for Hon Hai shares alone was NT$3.62 billion, the highest for any stock on the day, on institutional investors' expectations that the world's largest contract manufacturer may post consolidated sales of NT$1 trillion in the fourth quarter.
The positive forecast was based on strong shipments of Apple Inc.'s iPhone 5S, iPad Air and the latest version of the iPad mini, as well as the steady performance of Hon Hai's Hong Kong listed subsidiary FIH Mobile, a contract manufacturer of smartphones and game consoles.
DRAM maker Nov. sales up 6.4% M-o-M
But two companies in the Apple supply chain, metal casing supplier Catcher Technology Co. (可成科技) and camera lens maker Genius Electronic Optical Co. (玉晶), fell Monday.
Catcher lost 0.26 percent to end at NT$192.5, while Genius, which reportedly supplies camera lenses for Apple's iPhone 5C, plummeted 6.55 percent to NT$81.3.
Inotera Memories Inc. (華亞科技) closed 3.54 percent higher at NT$21.95 after reporting November sales on Friday that set a monthly high for the sixth consecutive month.
The DRAM maker reported combined sales of NT$6.46 billion in November, up 6.4 percent from a month earlier, thanks to an improved product mix and rising selling prices.
Concurrently, the U.S. dollar fell against the Taiwan dollar Monday, shedding NT$0.035 to close at NT$29.630. Turnover totaled NT$575 million during the trading session.