Catcher Shares Slump Most in Three Weeks in Taipei Trading
Catcher Technology Co., which makes metal casings for computers and mobile phones, slumped the most since Aug. 25 in Taipei trading after UBS AG said there’s speculation HTC Corp. (2498) may reduce demand for the company’s products.
The stock slid 6.8 percent to NT$213 as of 12:31 p.m. local time, set for the biggest loss since Aug. 25.
“Catcher has a very balanced customer base and won’t be impacted by an individual customer,” James Wu, Catcher spokesman, said by phone from Taipei. “We saw record sales in August and the trend of using metal casings in the industry will continue.”
Catcher’s August sales surged to NT$1.9 billion ($64.1 million) from NT$141 million from a year earlier, the company said in a statement to the Taiwan Stock Exchange on Sept. 5. HTC Chief Financial Officer Winston Yung didn’t answer calls to his mobile phone.
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