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Tatung Surges to 3-Week High After Land Development Report

Tatung Co. surged to the highest in three weeks in Taipei trading after the China Times cited analysts as saying the company’s land development project in Taipei may be worth more than NT$10 billion.

The stock gained 4.2 percent to NT$12.50 as of 9:49 a.m. local time, set for the highest close since Sept. 2. The estimate for the value of the project is speculation by the media, the company said in a statement to the Taiwan stock exchange.

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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