Taiwan Stocks: China Airlines, EVA, Hiwin Technologies, Taishin

Shares of the following companies may had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 1:30 p.m. close.

The Taiex Index rose 58.25, or 0.7 percent, to 9,035.48.

Airlines: China Airlines Ltd. (2610) (2610 TT) gained 1.1 percent to NT$19.10, the highest since April 26, and EVA Airways Corp. (2618) (2618 TT) advanced 2.4 percent to NT$29.40, the highest since Feb. 14. Economic Daily News reported Taiwan and Hong Kong may increase air services by at least 28 flights per week as early as next month. Liu Te-shun, a spokesman for Taiwan’s Mainland Affairs Council, didn’t immediately reply to a request for comment.

Hiwin Technologies Corp. (2049) (2049 TT): The Taiwanese maker of ball screws slumped 7 percent to NT$293.50, the lowest since April 29. The shares had more than doubled as of the close on May 6, the sharpest gain on the benchmark Taiex Index. The rally drove the 14-day relative strength index, which measures how rapidly prices gained over the specified time period, to 76. Some investors see readings of 70 or more as a signal to sell. It has “risen too much” this year, said Chang Ya-chien, an analyst at Mega Securities Co.

Taishin Financial Holding Co. (2887 TT) climbed 5.4 percent to NT$17.45, the most since Dec. 29. April’s profit was NT$1.7 billion, higher than March’s NT$510 million, the company said in a statement to the Taiwan Stock Exchange May 6.

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

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

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