The benchmark Taiex Index fell 0.3 percent to 7,377.18, the lowest close since Jan. 18.
Gloria Material Technology Corp. (5009) (5009 TT) dropped 1.5 percent to NT$32, the lowest close since April 27. The steelmaker’s board approved a plan to sell as many as 20.8 million common shares to Hitachi Metals Ltd. at a tentative price of NT$33.43 each.
Golden Biotechnology Corp. (4132) (4132 TT) retreated 4.4 percent to NT$32.50. The medical research company’s April sales fell 16 percent from a year earlier to NT$7.74 million, according to a statement to the Taiwan Stock Exchange.
To contact the reporter on this story: Weiyi Lim in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com