Taiwan Stocks: Cheng Shin Rubber, Largan, Powerchip Technology

Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are at the close in Taipei.

The Taiex Index fell 0.5 percent to 7,491.06, snapping two days of gains.

Largan Precision Co. (3008 TT) dropped 1.9 percent to NT$611. Cheng Shin Rubber Industry Co. (2105 TT) retreated 3.4 percent to NT$64.70. Chinatrust Financial Holding Co. (2891 TT) lost 2.2 percent to NT$17.65. Acer Inc. (2353) (2353 TT) dropped 0.3 percent to NT$34.80. Daiwa Capital Markets recommended selling the four companies according to a report dated yesterday.

Powerchip Technology Corp. (5346) (5346 TT) surged for a fifth day, gaining 6.5 percent to NT$1.31 after the company said it is seeking an extension of debt repayments.

Silicon Integrated Systems Corp. (2363) (2363 TT) jumped 4.5 percent to NT$11.60, the biggest advance since Aug. 15. The computer chipset maker’s board agreed to buy back 30 million shares, or 4.39 percent of its outstanding stock

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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