Taiwan Stocks: Catcher, HTC, Largan, Mega, Taiwan Cooperative

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

The Taiex Index rose 0.9 percent to 6,864.39, snapping a four-day, 7.9 percent drop.

HTC Corp. (2498) (2498 TT), the largest seller of smartphones in the U.S., slumped 6.9 percent to NT$526, the lowest close since July 28, 2010, after cutting its revenue forecast. Revenue this quarter will be little changed from a year earlier, the company said in a statement yesterday after markets closed, compared with an earlier target for growth of 20 percent to 30 percent.

Suppliers Catcher Technology Co. (2474) (2474 TT) sank 7 percent to NT$147, the lowest close since April 1. Largan Precision Co. (3008) (3008 TT) lost 7 percent to NT$473.50, the lowest close since May 21, 2010. TPK Holding Co. (3673) (3673 TT) retreated 2.8 percent to NT$387.

Mega Financial Holding Co. (2886) (2886 TT) gained 3.9 percent to NT$19.80. The company’s Mega International Commercial Bank Co. unit and Shanghai Pudong Development Bank Co. plan to sign an agreement to cooperate on business, Mega Financial said in a statement to the Taiwan stock exchange.

Taiwan Cooperative Bank (5854) (5854 TT) advanced 1.9 percent to NT$18.45. The financial service company’s board approved a plan to set up a branch in Tianjin and a sub-branch in Suzhou, China, according to a stock exchange statement.

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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