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IC stocks up ahead of SEMICON Taiwan

TAIPEI -- The local integrated circuit sector moved higher Monday on expectations that the upcoming annual SEMICON Taiwan exhibition (國際半導體展) will come up with positive leads to help IC stocks spark more buying interest, dealers said.

The current buying also resulted from the consolidation mode in which the local semiconductor sector had moved in recent sessions and their attractive valuations lured many bargain hunters to enter the trading floor in the current session, the dealers said.

Large cap semiconductor stocks, such as contract chip maker Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) and IC packaging and testing services provider Siliconware Precision Industries Co., (矽品精密工業) posted significant gains, giving a strong boost to the broader market, they added.

As of 11:55 a.m., shares of TSMC, the most heavily weighted stock in the local market, had added 3.23 percent to NT$128.00 (US$4.27) with 22.15 million shares changing hands, while shares of Siliconware had risen 3.78 percent to NT$45.25 on trading volume of 8.18 million shares.

Shares of IC designer MediaTek Inc. (聯發科技) had added 1.90 percent to NT$509.00 with 5.64 million shares changing hands as of 11 a.m.

The semiconductor sub-index was up 2.39 percent at 116.42 points, while the weighted index on the Taiwan Stock Exchange was up 0.79 percent at 9,510.54 points.

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