Taiwan LCD shares jump on China buying pledge

Sun Dec 21, 2008 8:40pm EST

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TAIPEI Dec 22 (Reuters) - Shares of Taiwan LCD makers jumped on Monday after China said over the weekend it would buy $2 billion worth of Taiwanese flat screen monitors to support the industry during the global economic downturn.

The LCD announcement was part of a broader series of pledges by China to support Taiwan during the economic downturn, at the end of a cross-strait forum in Shanghai. [nN21273662]

Shares of AU Optronics (2409.TW), Taiwan's top LCD maker, were up 4.54 percent shortly after the market opened, while shares of No. 2 player Chi Mei Optoelectronics 3009.TW were up by their daily limit of 6.9 percent.

No. 3 LCD maker Chunghwa Picture Tubes (2475.TW) was also up by its daily limit, while Hannstar Display (6116.TW) added 6.01 percent.

(Reporting by Doug Young; Editing by Keiron Henderson)

((doug.young@thomsonreuters.com; Reuters Messaging: doug.young.reuters.com@reuters.net; +886 2 2508-0815)) Keywords: TAIWAN LCDS/STOCKS

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