Taiwan Stocks: Advanced Semi, Hon Hai Precision, Merry
Stock Chart for Advanced Semiconductor Engineering Inc (2311)
Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the 1:30 p.m. close.
The Taiex Index rose 47.60, or 0.6 percent, to 8,780.20.
Advanced Semiconductor Engineering Inc. (2311) (2311 TT) dropped 1.5 percent to NT$30.05, the lowest since Nov. 29. The chip packaging and testing company was cut to “hold” from “buy” at BNP Paribas, which said first-quarter sales and profit may post a “sharp fall” from the previous three months. The brokerage reduced its share-price forecast to NT$31.50 from NT$42.50, analyst Szeho Ng wrote in a report.
Hon Hai Precision Industry Co. (2317 TT), the flagship company of Foxconn Technology Group, advanced 1 percent to NT$106.50. Brazilian President Dilma Rousseff said Foxconn Technology may spend $12 billion over five to six years to expand production in the country, in what would be the Taiwanese company’s biggest investment overseas.
Merry Electronics Co. (2439 TT) jumped by the 7 percent daily limit to NT$48.15, the biggest advance since Oct. 6, 2009. The Economic Daily News reported it may get orders from Apple Inc., without saying where it got its information. Tseng Chin- tang, a spokesman for Merry, wasn’t immediately available to comment at his office.
To contact the reporter on this story: Weiyi Lim in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Reinie Booysen at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.