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.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.