Taiwan Equity Movers: Hon Hai Precision Industry, HTC, MediaTek
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 climbed 0.3 percent to 7,080.31, its third day of gains, capping the longest winning streak since a four- day advance through April 13.
Hon Hai Precision Industry Co. (2317) (2317 TT), the world’s largest electronics maker, rose 1.3 percent to NT$83.90. Sharp Corp. said it is outsourcing some overseas production of smaller flat panel televisions to Hon Hai, Sankei reported, without saying where it got the information. Hon Hai Chairman Terry Gou said the company remains committed to its investment in Sharp.
HTC Corp. (2498) (2498 TT), Asia’s second-biggest smartphone maker, slid 6.9 percent to NT$378, its lowest close since June 2010. The company cut its second-quarter revenue forecast by 13 percent and Apple Inc. filed a new action seeking to block HTC’s latest handsets in the U.S.
MediaTek Inc. (2454) (2454 TT) advanced 1.2 percent to NT$260.50, the highest close since May 31. The chip designer’s May sales rose 20 percent from a year earlier to NT$4.5 billion, according to a statement filed to the Taiwan Stock Exchange.
To contact the reporter on this story: Ee Chien Chua in Singapore at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.