Taiwan Stocks: Gintech Energy, Novatek Microelectronics, Qisda
Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 9:48 a.m. in Taipei.
The Taiex Index fell 28.70 points, or 0.4 percent, to 7,617.49. The benchmark has dropped 12 percent this month, the most since October 2008.
Gintech Energy Corp. (3514) (3514 TT) increased 1.7 percent to NT$41.30. The solar-cell maker was raised to “neutral” from “underperform” by Credit Suisse Group AG analyst Darryl Cheng. The share-price estimate is NT$38.
Novatek Microelectronics Corp. (3034 TT) gained 4.1 percent to NT$74.10, set for the highest close since Aug. 4, after China Times reported it got orders from HTC Corp. and Apple Inc. David Chen, spokesman for the company, didn’t immediately answer calls to his office.
Qisda Corp. (2352) (2352 TT) jumped 6.9 percent to NT$8.03, set for the highest close since Aug. 16, after it reported net income of NT$130 million in the second quarter, compared with a loss in the first quarter.
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