Why Are United Microelectronics Shares Trading Higher Today?

United Microelectronics Corp UMC is the third-largest dedicated chip foundry, with a 7% market share in 2020 as per Gartner after Taiwan Semiconductor Manufacturing Co Ltd TSM and GlobalFoundries.
As per reports, the UMC aims to hike its prices for the second time for its 28-nm technology in quick succession.
Rival TSM, which decided to keep the 28-nm prices intact, planned a 10% hike for its sub-16nm prices in 2022.
It seems like an opportune moment to raise the prices considering the demand surge aided chip crisis.
Price Action: UMC shares traded higher by 6.55% at $12.52 in the premarket session on the last check Friday.