Taiwan Equity: Hon Hai Precision Industry, Taiwan Cement, TPK
The benchmark Taiex Index rose 0.3 percent to 7,395.64.
Hon Hai Precision Industry Co. (2317) (2317 TT) dropped 1.7 percent to NT$85.40, the lowest close since Jan. 16. The world’s largest electronics maker’s gross margin was at 6.64 percent for the first quarter, compared with 7.25 percent a year earlier and 8.89 percent the previous quarter.
Taiwan Cement Corp. (1101) (1101 TT) retreated 3.7 percent to NT$32.75, the lowest close since Dec. 15. The island’s largest maker of cement was cut to neutral from buy at SinoPac Securities Corp.
TPK Holding Co. (3673) (3673 TT) gained 3.8 percent to NT$373.50. The touch panel company is undervalued and concern on technology migration is “overdone,” Macquarie Securities Ltd. said in a report.
To contact the reporter on this story: Weiyi Lim in Singapore at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org