UMC Buyback Week Puts Focus on Chip Stock’s Rally
UMC shares in Taiwan jumped about 20% last week, closing Friday at NT$110 after a buyback of 3.78 million shares for NT$406.6 million. The company held 20.5 million treasury shares during the repurchase period. UMC’s April net sales rose 10.8% year-on-year to NT$22.66 billion. The broader TAIEX index fell Friday after hitting a record intraday high.