Taiwan Stocks: AU Optronics, Hon Hai Precision, Quanta Computer
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 gained 0.3 percent to 7,501.72. The gauge dropped 5.4 percent in April, the biggest monthly slump since November.
AU Optronics Corp. (2409) (2409 TT) dropped 2.2 percent to NT$13.10, the lowest close since Jan. 9. The flat panel maker will seek shareholder approval at its annual meeting on June 13 to sell as many as 800 million shares.
Hon Hai Precision Industry Co. (2317) (2317 TT) slumped by the 7 percent daily limit to NT$92.40, the biggest loss since Nov. 13, 2008. The unit of Foxconn Technology Group posted first-quarter net income of NT$14.9 billion ($510 million), missing the NT$21.5 billion average of 10 analyst estimates. UBS AG and Fubon Financial Holding Co. downgraded the stock after the earnings report.
Quanta Computer Inc. (2382) (2382 TT) gained 3.6 percent to NT$76.80. First-quarter net income was NT$5.1 billion, the Taoyuan, Taiwan-based company said in a statement. That compares with the NT$5.09 billion average of 15 analyst estimates compiled by Bloomberg.
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