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Taiwan Semiconductor to Join Chip Index


05:11 PM EST June 12, 2003
The Associated Press


TAIPEI

Taiwan Semiconductor Manufacturing Co. and France's STMicroelectronics N.V. will join the Philadelphia Semiconductor Index later this month, the Philadelphia Stock Exchange Inc. said in a Web site posting.

This marks the first time non-U.S. companies will be included in the closely watched index, a move that's likely to boost the stocks of both chipmakers and increase their visibility among a broader range of investors.

Lattice Semiconductor Corp., of Hillsboro, Ore., will be removed from the list when the two new companies are added on June 23.

The changes will leave the index with 18 companies.

The Philadelphia Semiconductor Index is a price-weighted index of companies primarily involved in the design, distribution, manufacture and sale of semiconductors. It includes chip heavyweights like Intel Corp. and Texas Instruments Inc.

TSMC is the world's largest foundry chipmaker, manufacturing chips on behalf of firms that develop them.

STMicro develops a wide range of chips for communications and electronics goods, and was the world's sixth-largest chipmaker in terms of revenue last year, according to market researcher iSuppli Corp.

Shares of TSMC climbed 18 cents, or 1.8 percent, to close Thursday at $10.37 on the New York Stock Exchange.

STMicro slipped 87 cents, or 3.8 percent, to $21.91 on the Big Board.

Shares of Lattice fell 57 cents, or 6.5 percent, to $8.18 on the Nasdaq Stock Market.

 
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