Taiwan Stocks Movers: Epistar, Sino-American Silicon Products

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

The Taiex Index fell 2.3 percent to 6,764.59, the lowest close since Aug. 27, 2009.

Epistar Corp. (2448) (2448 TT) sank 4.8 percent to NT$61.10, the most since Nov. 23. Nomura Holdings Inc. recommended not buying Asian light-emitting diode stocks. Deteriorating profitability for LED backlighting will continue in 2012 and beyond, while longer term general lighting will be another tough market for LED makers, Anne Lee, analyst at Nomura, wrote in a report.

Sino-American Silicon Products Inc. (5483) (5483 TT) declined 6.2 percent to NT$39.10, the lowest close since Nov. 24. The company plans to sign a loan of about $360 million equivalent by the end of the year to fund the purchase of Covalent Materials Corp’s wafer unit, said a person familiar with the matter who declined to be identified because the details are private.

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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