Nova Measuring Instruments Ltd., the Israeli maker of process control systems, expects sales to jump from the second half as Asian chipmakers increase spending to meet smartphone demand in the region, according to the chief executive officer.
Taiwan Semiconductor Manufacturing Co., the world’s largest contract maker of chips, forecast record quarterly sales and raised its spending plan amid rising smartphone demand. The stock surged the most since May 2009.
U.S. stocks rallied, sending the Standard & Poor’s 500 Index to its highest level ever, as China’s imports grew, Japan reiterated its stimulus plans and investors speculated earnings will beat estimates.
Asian stocks rose, with the regional benchmark index poised for the biggest gain in seven months, as the yen neared 100 to the dollar after the Bank of Japan said it will maintain stimulus and loan growth in China topped estimates.
Taiwan Semiconductor Manufacturing Co., the world’s largest contract producer of chips, forecast sales surpassing analysts’ estimates as demand for components used in phones and tablets continues to outstrip expectations.