Delta Electronics, Masterlink, Taishin: Taiwan Stocks Preview
Shares of the following companies may have unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the last close in Taipei.
The Taiex Index fell 1.6 percent to 7,614.97.
Delta Electronics Inc. (2308) (2308 TT): The maker of notebook computer power-supply packs plans to eliminate 10 percent of its workforce in China, or 6,000 workers, as a cost-cutting measure, Economic Daily News reported, citing Yancey Hai, chief executive officer of the company. Delta dropped 5.5 percent to NT$75.50.
MasterLink Securities Corp. (2856) (2856 TT): The brokerage firm plans to buy back 50 million common shares, or 3.3 percent of the total outstanding, the company said in a statement to the stock exchange. The company plans to buy back shares at between NT$8.12 and NT$18.38 each from today to Oct. 18, it said. Masterlink slid 0.4 percent to NT$11.60.
Ta Ching Securities Co. (6021 TT): The brokerage firm plans to acquire Fullsun Securities Co. for NT$860 million ($30 million) in cash, the buyer said in two statements to the stock exchange. The brokerage will pay NT$21.517 per Fullsun share in a deal that is set to be completed on Dec. 25, Ta Ching said. The stock declined 1.7 percent to NT$14.20.
Taishin Financial Holding Co. (2887 TT): The financial services company was raised to “equalweight” from “underweight” at Barclays Capital by equity analyst Dexter Hsu. The brokerage has a share-price estimate of NT$15.00. Taishin retreated 3.6 percent to NT$13.5.
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