Taiwan Stocks: Chimei, China Airlines, Fubon, Nan Ya Plastics

Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei. The benchmark Taiex Index fell 1.4 percent to 7,967.62, the first drop in four days and the biggest decline since March 5.

Chimei Innolux Corp. (3481) (3481 TT) slumped 6.2 percent to NT$13.60, the most since Dec. 15, after Xinhua News Agency reported China will impose five percent duties on flat panel screens with sizes that are 32 inches or larger from April 1.

China Airlines Ltd. (2610) (2610 TT) retreated 2.6 percent to NT$13, the lowest close since Jan. 4. Taiwan’s largest carrier reported a 2011 net loss of NT$1.95 billion compared to a net income of NT$10.60 billion a year earlier.

Fubon Financial Holding Co. (2881) (2881 TT) dropped 2.3 percent to NT$33.70, the most since Feb. 16. The company approved a plan to sell up to 1 billion new shares to raise as much as NT$40 billion of long-term funds.

Nan Ya Plastics Corp. (1303) (1303 TT) lost 3.3 percent to NT$65, the steepest decline since Dec. 15. The company’s 2011 net income sank 44 percent from a year earlier to NT$23.1 billion, it said in a 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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