Taiwan Stocks: China Steel, Inotera, Nanya, Taiwan Life, TSRC

Taiwan’s Taiex index fell 28.11, or 0.3 percent, to 8,997.19 at the 1:30 p.m. close, ending three consecutive sessions of gains.

China Steel Corp. (2002 TT), Taiwan’s largest steelmaker, lost 0.7 percent to NT$33.90, the biggest drop since Nov. 26. Its coal costs increased by $10 million because of the flooding in Australia, Executive Vice President Chung Le-min said by phone from Kaohsiung, Taiwan today. Taiwan’s biggest maker of the metal has bought spot coal from Russia and Canada as some Australian suppliers were unable to deliver the raw material, he said.

Inotera Memories Inc. (3474 TT) climbed 6.8 percent to NT$15.00, the biggest rally since May 10. The Taoyuan county, Taiwan-based maker of memory chips saw its unconsolidated sales increase to NT$3.12 billion in December from NT$2.7 billion in November.

Nanya Technology Corp. (2408 TT), the second-largest maker of dynamic random-access memory chips, advanced 2.8 percent to NT$16.80, the highest since Dec. 3. Its unconsolidated sales rose to NT$4.05 billion in December from NT$3.95 billion a month earlier.

Taiwan Life Insurance Co. (2833 TT) lost 4.2 percent to NT$34.15, the biggest drop since Aug. 25. The insurer posted a net loss of NT$386 million for November, the Taipei-based company said in an exchange statement yesterday, without giving comparative figures.

TSRC Corp. (2103 TT) jumped 6.7 percent to NT$77, the highest since Jan. 4, 1991, after SinoPac Securities increased its share-price estimate to NT$95 from NT$64.50. The synthetic rubber maker’s rating was maintained at “buy,” according to a SinoPac research report today.

To contact the reporter on this story: Adela Lin in Taipei at alin95@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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