Taiwan Equity Movers: Largan, Taiwan Semiconductor, United Micro

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 0.5 percent to 7,480.50, the lowest close since Jan. 30. The gauge dropped 0.4 percent this week, its second weekly decline.

Largan Precision Co. (3008) (3008 TT) declined 7 percent to NT$498.50, the sharpest loss since December 2008. The company’s first-quarter earnings per share was NT$6.58, missing the NT$7.40 average estimate of 13 analysts compiled by Bloomberg.

MediaTek Inc. (2454) (2454 TT) declined 6.4 percent to NT$240.5, the lowest close since Aug. 8, ahead of the company’s release of first-quarter earnings.

Taiwan Semiconductor Manufacturing Co. (2330) (2330 TT) rose 2.4 percent to NT$86, a record close, after the world’s largest contract manufacturer of chips forecast record sales of as much as NT$128 billion ($4.37 million) in the second quarter. The company also said first quarter net income was NT$33.5 billion, surpassing the NT$29.9 billion average of 16 analysts’ estimates compiled by Bloomberg.

United Microelectronics Corp. (2303) (2303 TT) advanced 2.3 percent to NT$15.30, the highest close since March 22. The company plans to sell NT$15 billion of bonds in three portions in an auction that closes on May 7, according to three people familiar with the matter. The proceeds will be used to expand production capacity, a stock exchange filing on April 25 showed. Liu Chitung, a spokesman for the company, couldn’t be reached immediately at his office for comment.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.