r post-ex-dividend performances. A boost in the U.S. manufacturing sector also sent investors on a buying spree. Taiwan’s benchmark stock index TAIEX rose 56.71 points to close at 8996.2, the highest close since June 2000. At one point the TAIEX surged past the critical 9,000 mark before coming back down a little.
The TAIEX opened at 8,983.24 yesterday morning and reached a high of 9,019.93 at mid-trade. The trade volume was NT$183.105 billion as 831 stocks rose and 468 stocks declined, bolstered by a rally in the following stock categories: foodstuffs, textiles, information technology, construction and finance.
Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, rose NT$0.2 to close at NT$71.2, which all but filled the gap after the stock opened at NT$64.7 on its ex-right and ex-dividend on June 8.
Formosa Plastics Corp. yesterday had its ex-right and ex-dividend of NT$4.4 as its stock opened at NT$78.2. The gap was nearly 50 percent made up for as the stock closed at NT$80, rising NT$1.8.
Hon Hai advanced NT$1, or 0.4 percent, to NT$289. The company’s U.S. customers include Apple Inc. and Motorola Inc.
New orders lifted the Institute for Supply Management’s U.S. factory index for June to its highest since April 2006. Economists had forecast no change. The U.S. is Taiwan’s second- largest export market.
Asustek climbed NT$1.50, or 1.6 percent, to NT$95. The company said yesterday it will separate its contract-manufacturing business from its branded electronics operations by January next year.
Asustek, which makes PCs for companies including Apple and sells competing laptops under its own brand, has said it’s reorganizing to avoid conflicts of interest.
China Airlines, the island’s largest carrier, slipped 5 cents, or 0.3 percent, to NT$14.85. The company will increase fuel surcharges on overseas flights by 17 percent starting July 16, due to an increase in the price of jet fuel, the transport ministry said. Jet fuel, the biggest expense for the airline, has surged 17 percent this year to US$84.85 per barrel in Singapore Monday.
Opto Tech Corp., a maker of light-emitting diode, climbed 80 cents, or 2.8 percent, to NT$29.05. Yuanta Securities Corp. recommended that investors buy shares of Opto Tech in its new rating of the stock, citing the company’s plans to reduce outstanding shares to boost profitability.
