Taiwan Stocks: Hung Seng, Taiwan Glass, United Microelectronics
Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the 1:30 p.m. close in Taipei.
The Taiex Index rose 142.85 points, or 2 percent, to 7,132.
Hung Sheng Construction Co. (2534 TT) gained 2.9 percent to NT$12.30, the biggest increase since Sept. 16. The construction company plans to buy back 20 million common shares, or 3.27 percent of its outstanding stock, the company said in a statement to the stock exchange yesterday.
Taiwan Glass Industrial Corp. (1802) (1802 TT) advanced 1.3 percent to NT$35.90. The glassmaker and Teco Electric & Machinery Co. (1504 TT) plan to invest NT$300 million ($9.79 million) to form a venture, United Evening News reported yesterday, without saying where it got the information. Teco increased 3.2 percent to NT$15.95.
United Microelectronics Corp. (2303) (2303 TT) gained 2.6 percent to NT$11.75, the highest close since Sept. 1. The world’s second-largest contract maker of chips bought back and canceled $30 million of zero-coupon convertible bonds due 2016 in the third quarter, the Hsinchu, Taiwan-based company said in an exchange filing.
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