Taiwan stocks hit near 2-wk high; UMC, ProMOS up

* Big techs jump after Wall Street gains, recovery hopes

* ProMOS outperforms after Elpida outsourcing move (Updates indexes, adds comments and details)

TAIPEI, Nov 6 - Taiwan stocks rose 1.1 percent on Friday to a near two-week high, led by major technology exporters such as chipmaker UMC <2303.TW> after sharp gains on Wall Street raised optimism over the sector's recovery. Taiwan's main TAIEX share index <.TWII> had risen 78.56 points to 7,496.02 around an hour into trade, even after a strong earthquake rattled Taiwan after the market closed on Thursday. [ID:nTP132640]

UMC <UMC.N> was the market's most active stock by volume, up 1 percent. Hon Hai <2317.TW>, which supplies electronics parts and assembles PCs for top U.S. brands, jumped 1.1 percent, lifting the electronics sector <.TELI> 0.8 percent.

"Investors have confidence in global economies and demand for technology products in the coming months," said Kevin Chung, manager at Taiwan's Jih Sun Investment Consulting. "The fourth quarter might be a little flat or weak but we don't have to be pessimistic about next year."

Computer memory chip maker ProMOS <5387.TWO> shot up 6.3 percent after Japan's Elpida <6665.T> said it would outsource manufacturing to ProMOS. [ID:nT213504]

Buying spread to financial shares and other companies with substaintial investments in China amid closer trade ties between Taiwan and China.

AU Optronics <2409.TW>, Taiwan's top LCD maker which supplies to some Chinese TV vendors, rose 0.5 percent. A local newspaper said on Friday that AU <AUO.N> was in talks with China's Haier on a possible strategic alliance.

Financials <.TFNI> gained 1.3 percent, with Cathay Financial Holding <2882.TW> up 1 percent.

For a table of foreign trading in Taiwan stocks, double-click on [ID:nTP170358]