Taiwanese Stocks: E Ink Holdings, LCY, United Microelectronics
Shares 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 rose 60.75, or 0.7 percent, to 8,944.84.
E Ink Holdings Inc. (8069) (8069 TT) gained 5.8 percent to NT$60.50, the highest level since May 5. The supplier of Amazon.com Inc.’s Kindle and Seiko Epson Corp. will develop an electronic paper with a resolution of 300 dots per inch, Seiko Epson said in a statement on its website.
LCY Chemical Corp. (1704) (1704 TT) lost 6.4 percent to NT$70.20, the lowest level since Jan. 13, on speculation a decline in solar cell prices may affect the profit of its solar-energy unit, said Jun Liao, an analyst at Grand Cathay Securities Corp. Charles Wei, spokesman for LCY, wasn’t immediately available for comment at his office.
United Microelectronics Corp. (2303) (2303 TT), the world’s second-largest maker of custom chips, dropped 1.7 percent to NT$14.60, the lowest close since March 18, after selling $500 million of bonds convertible into stock. Investors were concerned about the dilution of shares after the sale, said Jack Hung, an analyst at Mega Securities Co.
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