Taiwan Stocks: Hon Hai Precision, HTC, MStar Semiconductor
Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 9:59 a.m. in Taipei.
The Taiex Index fell 284.23 points, or 3.9 percent, to 7,021.27, set for the lowest close since Sept. 1, 2009. The gauge has dropped 7.3 percent this week, set for the steepest drop in seven weeks.
Farglory Land Development Co. (5522 TT): The construction company’s board has authorized its chairman to spend as much as NT$7.5 billion ($244.7 million) to buy land in Taipei and New Taipei, the company said in a statement to the Taiwan stock exchange.
Fubon Financial Holding Co. (2881 TT) slid 6.8 percent to NT$32.15, set for the lowest close since June 10, 2010. Fubon Life Insurance Co. bought 20 million shares of Tenfu Holdings Company Ltd. at HK$6 each in an initial public offering, Fubon Financial, parent of the insurer, said in a statement to the Taiwan stock exchange yesterday.
Via Technologies Inc. (2388) (2388 TT), a computer processor company, retreated 4.3 percent to NT$24.80. The company sued Apple Inc. in Delaware, alleging the company’s portable electronic products infringe U.S. patents, according to a court document on Sept. 21.
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