Taiwan Stocks: China Development, KGI Securities, TSMC

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 jumped 2.9 percent to 7,342.29, the biggest advance since Dec. 21. The gauge has fallen 2.1 percent this month, headed for its third month of losses.

China Development Financial Holding Corp. (2883 TT) gained 2.7 percent to NT$7.24, the largest advance since May 17. KGI Securities Co. (6008) (6008 TT) surged 6.7 percent to NT$12.75, the biggest gain since April 10. China Development bought 2.67 billion shares, or about 81 percent, of KGI Securities from May 7 to May 28, the Taipei-based financial holding company said in a statement to the Taiwan stock exchange.

Taiwan Semiconductor Manufacturing Co. (2330) (2330 TT) increased 0.9 percent to NT$82.30. Taiwan Semiconductor, the world’s largest custom chipmaker, and Renesas Electronics Corp. will extend an agreement to cooperate on developing and manufacturing microcontrollers used in cars and DVD players.

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