United Microelectronics Corporation (UMC) shares soared 5.02% during the trading session, extending recent gains for the semiconductor foundry.

The rally was primarily fueled by the company's standout first-quarter financial results, which showed net profit surging 108% year-over-year to NT$16.17 billion, significantly exceeding market expectations. The company also reported improved operational metrics with gross margin reaching 29.2% and capacity utilization climbing to 79%.

Adding to the positive sentiment, UMC announced the launch of its 14nm FinFET technology platform for display driver integrated circuits, marking a significant advancement in its product offerings. Management's guidance indicating average selling prices could increase by an additional 5% to 7% in the second quarter further supported investor confidence in the company's pricing power for mature-process semiconductors.