Taiwan Stock Movers: Epistar, Formosa Plastics, Nan Ya Plastics
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 7,074.82, halting a three-day retreat. The gauge has declined 21 percent this year, set for the first annual drop since 2008.
Formosa Plastics Group units: Formosa Plastics Corp. (1301) (1301 TT) slipped 2.4 percent to NT$80.8. Nan Ya Plastics Corp. (1303) (1303 TT) fell 1.2 percent to NT$59.7. Formosa Chemicals & Fibre Corp. (1326) (1326 TT) slumped 1.4 percent to NT$79.7.
Formosa Plastics Group Chairman William Wong said he’s downbeat about the industry outlook for the first and second quarters, according to a statement after markets closed yesterday.
Compeq Manufacturing Co. (2313) (2313 TT), a maker of printed circuit boards, added 1.6 percent to NT$9.4. The company plans to invest $45 million to set up a new company in Chongqing, southwestern China, according to a statement to exchange.
Epistar Corp. (2448) (2448 TT), a light-emitting diode maker, gained 0.6 percent to NT$64.7. The company plans to buy back 10 million shares, according to a statement to the stock exchange.
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