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Taiwan Stocks: Chipbond, First Financial, Fubon, PixArt Imaging

Taiwan’s Taiex Index rose 147.63, or 1.8 percent, to 8,520.11 at the 1:30 p.m. Taipei trading close, the highest close since June 9, 2008.

Banking stocks: First Financial Holding Co. (2892 TT) surged 6.9 percent to NT$21.80, the highest close since Sept. 12, 2008. Chang Hwa Commercial Bank (2801 TT) jumped 6.9 percent to NT$21.65. Hua Nan Financial Holdings Co. (2880 TT) climbed 6.9 percent to NT$21, the biggest advance since May 19, 2009.

Thirty-seven domestic banks made a total pretax profit of NT$156.37 billion ($5.1 billion) in the first ten months of the year, the Commercial Times said. The record earnings can be attributed to lower non-performing loans and improved asset quality, the Chinese-language daily reported, citing Lin Tung- liang, chief secretary at the Financial Supervisory Commission. Lee Jih-chu, vice chairwoman and spokeswoman at the FSC, wasn’t immediately available for comment at her office.

Chipbond Technology Corp. (6147 TT) soared 6.6 percent to a record NT$53.70, after Macquarie Group Ltd. raised its share- price estimate to NT$66 from NT$46. The brokerage kept its rating at “outperform.”

Far Eastern New Century Corp. (1402 TT) increased 4.4 percent to NT$47.05, its biggest gain since Nov. 5. Macquarie boosted the company’s share-price forecast to NT$52 from NT$42. The brokerage maintained its “outperform” recommendation.

Fubon Financial Holding Co. (2881 TT) advanced 2.3 percent to NT$38.05. Taiwan’s second-largest listed financial services company bought NT$2.4 billion of non-performing loans from Shin Kong Life Insurance Co., the Taipei-based company said in an exchange filing yesterday.

Qisda Corp. (2352 TT) gained 2 percent to NT$20.50. The company said in an exchange filing that all material litigation arising from Qisda’s 2005 purchase of the mobile-device business of Siemens AG have been resolved with no material impact on its operations or financial condition.

PixArt Imaging Inc. (3227 TT), the maker of sensor chips for Nintendo Co.’s Wii game console, surged 6.9 percent to NT$148, the most since March 1 after Nintendo said it sold 600,000 Wii consoles in the week to Nov. 27.

To contact the reporter on this story: Weiyi Lim in Taipei at Wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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