Taiwan Equity Movers: Gloria Material Technology, Golden Biotech

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 0.3 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 wlim26@bloomberg.net

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

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