STOCKWATCH: Taiwan electronics shares higher on NASDAQ gains
TAIPEI (AFX-ASIA) - Electronics shares were higher in early trade in tandem with the firmer NASDAQ ovrter guidance, dealers said. There is fresh momentum in the broader market, with sentiment boosted by a perceived easing in Sino-U.S. tensions after the U.S. administration expressed its regret over the Chinese pilot missing since last weekend's collision between his fighter jet and a U.S. surveillance aircraft, they added. At 9:19 am, the electronics sector was up 3.72 pct. The weighted index was up 160.96 points at 5,566.81, off a high of 5,579.20, on turnover of 22.36 bln twd. The Taiwan dollar was at 32.920 against the U.S. dollar, from its previous close of 32.979. Dell's expectations of meeting its first-quarter earnings forecast improved sentiment towards its local suppliers. Interest in local electronics stocks was further bolstered by expectations of a technical recovery after consecutive declines in previous sessions, dealers said. Among local suppliers to Dell, Compal was limit-up 3.50 twd at 58.50, Quanta rose 5.00 to 120.50, Taiwan Liton rose 1.10 to 26.40, D-Link added 2.50 to 59.00, GVC gained 0.70 to 20.80, Compeq rose 3.00 to 119.00, Lite-On rose 2.00 to 52.50, and Hon Hai rose 5.00 to 201.00. Heavyweight semiconductor stocks also moved higher in line with their U.S. counterparts. TSMC rose 4.00 twd to 83.50, UMC gained 2.20 to 51.00, Macronix rose 1.30 to 50.50, Mosel gained 0.80 to 25.30, and Winbond rose 1.50 to 39.00. Systex was limit-up 4.00 twd at 67.50 following Yahoo's rally overnight. Systex holds a stake in Yahoo.
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