Taiwan Stocks: Altek, Hon Hai, Pihsiang Machinery Manufacturing
Stock Chart for Altek Corp (3059)
Taiwan’s Taiex Index was little changed at 8,740.43 at the 1:30 p.m. close of Taipei trading.
Altek Corp. (3059 TT) gained 4.5 percent to NT$45.05, the biggest advance since Aug. 16. The Taiwan camera-maker’s board approved a plan to buy back 5 million shares, or 1.29 percent of total outstanding shares, the company said in a statement to the exchange yesterday. Altek plans to buy back the stock at between NT$36 and NT$50 apiece from Dec. 14 to Feb. 12.
Hon Hai Precision Industry Co. (2317 TT) increased 2.2 percent to NT$115, the highest since Nov. 22, amid speculation it will form a solar venture with GCL Poly Energy Holdings Ltd., according to a note from Mirae Asset Securities Co. Edmund Ding, spokesman for Hon Hai, didn’t answer calls made to his mobile phone. Tong Yee Ming, chief financial officer at Hong Kong-based GCL, wasn’t immediately available for comment at his office.
Pihsiang Machinery Manufacturing Co. (1729 TT) rose 1.7 percent to NT$48.20, the highest since Oct. 28. The company’s board approved plans to buy back 2 million shares, or a 1.06 percent stake, the company said in a statement to the stock exchange yesterday. It plans to buy back shares for between NT$33.18 and NT$69.48 each from Dec. 14 to Feb. 13, according to the statement.
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