Taiwan stocks at 2-mth high; Intel boosts TSMC, Acer

* Intel's market-beating results lift chip, PC shares

* Financials sub-index up 1.6 percent on China currency rule

* China Steel adds 1 percent after price cuts for September

* Benchmark index seen challenging 8,000 points in near term (Adds comments, hot stocks)

TAIPEI, July 14 (Reuters) - Taiwan stocks rose 1.4 percent to a two-month intraday high on Wednesday, with chipmakers including TSMC (2330.TW) and computer companies leading gains after Intel's (INTC.O) better-than-expected outlook fanned optimism over their business outlook.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chipmaker, added 1.5 percent, with the semiconductor sub-index .TSII up 2 percent.

The computer and peripheral equipment sub-index .TCPI was up 2.4 percent, with Acer Inc (2353.TW), the world's No.2 PC brand, advancing 4.35 percent and Hon Hai Precision Industry Co (2317.TW), which makes products for U.S. clients like Dell (DELL.O), rose 2.5 percent.

"We believe Intel's result is just the beginning of the many forecast-beating earnings to be reported by major U.S. companies," said Yu Rayming, chief investment officer of Prudential Financial Securities Investment Trust.

"Investor worries about a double-dip in the global economy have apparently eased, but bear in mind there is stil uncertainty hanging over the euro zone debt problems," Yu said, adding that Taiwan's broader market could test 8,000 points in near term."

Resilient demand for PCs and servers helped Intel's margin and revenue forecasts blast past Wall Street expectations, allaying fears of a technology spending slowdown and sending its shares surging nearly 8 percent. [ID:nN12197658]

By about 0200 GMT, the main TAIEX share index .TWII had gained 108.19 points to 7,705.61, its highest intraday level since May 14.

The financials sub-index .TFNI advanced 1.6 percent after China further promoted the reach of its currency beyond its borders by authorising the Hong Kong arm of Bank of China to provide yuan cash settlement services for Taiwan banks operating in Hong Kong. [ID:nTOE66C06R]

China Steel Corp (2002.TW), Taiwan's biggest steelmaker, was up 1 percent. The company said on Tuesday that it would cut domestic prices for September by an average 4 percent from July-August, hurt by falling demand in China and financial troubles of Europe. [ID:nTOE66C02X].

Foreign investors switched to net sellers of Taiwan shares for the first time in three days on Tuesday, unloading a total of T$1.4 billion. They had a net buy of T$194 million so far this month. [ID:nTOE65305E] (US$1=T$32.1) (Reporting by Faith Hung; Editing by Chris Lewis)