Taiwan Stocks: China Life Insurance, Sino-American Silicon
Stocks of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 1:30 p.m. close.
The Taiex Index fell 84.61, or 1 percent, to 8,718.12. The benchmark lost 2 percent this week, the first decline in four weeks.
China Life Insurance Co. (2823 TT) gained 3.9 percent to NT$30.65, the highest since Jan. 24. The insurer’s board of directors will ask shareholders to authorize it to oversee the sale of up to 300 million new shares through domestic or overseas offers, or private placement, or a combination of the methods, the Taipei-based insurer said in a statement to the Taiwan stock exchange yesterday.
Sino-American Silicon Products Inc. (5483) (5483 TT) fell 6.7 percent to NT$118.50, the lowest since Feb. 11, after saying it plans to spin off its semiconductor wafer and sapphire substrate units.
To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net
To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net
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