Taiwan shares close higher, led by gains in DRAM chip issues

Taipei, July 23, 2003 (CENS)--Taiwan shares closed higher, led by issues of dynamic random access memory (DRAM) chips on a report that South Korean chip giant Samsung Electronics has raised contract prices for its more advanced chip products, analysts said.

The benchmark price index of the Taiwan Stock Exchange gained 41.71 points, or 0.80%, to 5261.01 in dealings valued at NT$87.26 billion. Rising stocks outnumbered decliners 328 to 294, while 180 issues remained unchanged.

The main index closed off its intraday high of 5271.57 as some investors decided to take profits in selected old-economy stocks, offsetting gains in the electronics sector, analysts said.

The electronics subindex ended trading 1.4% higher.

Among the top gainers, Winbond Electronics went limit-up NT$1.40 to NT$21.40, and Nanya Technology gained NT$1.70 to NT$27.90.

A rally in flat panel display stocks also contributed to the sector's gains. AU Optronics gained NT$0.40 to NT$31.30, and Chunghwa Picture Tubes advanced NT$0.70 to NT$17.10.

Transportation stocks gained 1.8%, led by China Airlines and EVA Airways as their businesses have been improving from SARS.

China Airlines rose NT$0.50 to NT$13.75 as it went ex-dividends yesterday, while EVA Airways gained NT$0.05 to NT$12.55.

Of other sectors, steel issues edged up 0.2%, while financial shares ended flat, textiles lost 1.5% and cement stocks fell 0.3%.

The price index of the over-the-counter market ended 1.13 points, or 1.04%, higher to 110.03 in dealings valued at NT$16.65 billion.

August index futures on Taiwan's futures exchange closed up 54 points to 5293 on turnover of 38,404 lots. August electronics futures rose 5.25 points to 233.25 on volume of 4,392 lots, while August financial futures added three points to 715 on turnover of 1,656 lots.