Taiwan Equity Movers: Clevo, Formosa International, Hannstar

Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 9:14 a.m.

The Taiex Index rose 61.31, or 0.7 percent, to 8,788.40.

Clevo Co. (2362) (2362 TT) gained 2.5 percent to NT$53.50, halting an eight-day slump. The laptop maker plans to buy back 6 million common shares, or 0.94 percent of its outstanding stock, at between NT$50 and NT$62.5 each from today to June 25, the Taipei-based company said in a statement to the stock exchange yesterday.

Formosa International Hotels Corp. (2707) (2707 TT) surged 5.8 percent to NT$562 after the Central News Agency reported yesterday individual Chinese tourists will be allowed to visit the island before the end of June, citing Lai Shin-yuan, minister for Mainland Affairs Council.

Hannstar Display Corp. (6116) (6116 TT) advanced 4.4 percent to NT$5.03, the steepest increase since March 18, after the Commercial Times reported the flat panel maker received orders for Asustek Computer Inc.’s tablet computers, citing market speculation. Justin Chien, an investor relations spokesman for Hannstar, declined to comment on customer orders.

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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