Chip-related stocks in Singapore and Taiwan advanced after market researcher IDC estimated worldwide semiconductor sales will rise by 18 percent next year on stronger-than-expected demand for personal computers and mobile phones. In April, IDC forecast a 16 percent growth in sales next year.
``Growth in the economy will be better than this year and earnings are likely to improve as well,'' said Teo Chon Kiat, who helps manage about $1.4 billion in Asia, excluding Japan, at DBS Asset Management Ltd. in Singapore. ``Tech stocks are skewed toward a recovery and will be beneficiaries of this rebound.''
Chartered Semiconductor Manufacturing Ltd., Singapore's biggest computer chip company, climbed 0.6 percent to S$1.73. For the year, the stock has more than doubled and is the second- best performer on the Straits Times. The Straits Times rose 0.65 point to 1764.52 today.
Yageo Corp., Taiwan's biggest maker of parts that control electricity in cell phones and PCs, rallied 2.7 percent to NT$15.10. The stock has risen 68 percent this year. Taiwan Semiconductor Manufacturing Co., the world's largest maker of made-to-order chips, climbed 0.8 percent to NT$63.50. It has climbed 61 percent this year.
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