Taiwan Stocks Movers: Formosa International, Quanta, Powertech
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 rose 0.3 percent to 6,785.09. The benchmark retreated 1.6 percent this week, a second consecutive loss.
First Steamship Co. (2601) (2601 TT) advanced 1.2 percent to NT$32.60. The company’s unit bought 8 million of New China Life Insurance Co.’s H-shares.
Formosa International Hotels Corp. (2707) (2707 TT) retreated 0.9 percent to NT$366.50, the lowest close since July 6, 2010. The company was cut to “neutral” from “buy” at Jih Sun Securities Ltd. by analyst Rita Hsueh.
Quanta Computer Inc. (2382) (2382 TT), which assembles Amazon.com Inc.’s Kindle Fire tablet computer, advanced 2.1 percent to NT$61.80, the highest close in a week. Amazon.com, the world’s largest online retailer, said customers have bought about 1 million of its Kindle e-book readers and tablets in each of the past three weeks, the most detailed sales numbers the company has released. The Kindle Fire has been the best-selling product on Amazon.com since its introduction 11 weeks ago, the Seattle- based company said in a statement.
Powertech Technology Inc. (6239) (6239 TT) lost 1.5 percent to NT$65.60, the lowest close since Nov. 25. The company offered to buy a controlling stake in Greatek Electronics Inc. (2441) (2441 TT) at a 26 percent premium above the stock’s closing price yesterday. Greatek surged 7 percent to NT$21.40.
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