Blackberry Posts Loss as Revenue Misses Estimates
Taiwan Stock Movers: HTC Corp., Sino-American Silicon, TSMC, Via
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 rose 0.2 percent to 7,088.83.
HTC Corp. (2498) (2498 TT), Asia’s second-biggest smartphone maker, rose 1.5 percent to NT$350, snapping a four-day slide. President and Chief Executive Officer Peter Chou told investors at its annual shareholder meeting yesterday the company hopes to see better results in the second half as new products boost momentum. HTC’s direction and strategy is correct, he said.
Sino-American Silicon Products Inc. (5483) (5483 TT), the provider of silicon used in solar cells, added 3.5 percent to NT$50.30, the biggest gain since May 4. The company plans to raise wages from July 1 after May revenue almost hit a historic high, the company said in an e-mailed statement. It’s hiring about 200 people to meet strong demand, it said.
Taiwan Semiconductor Manufacturing Co. (2330) (2330 TT), the world’s largest maker of custom chips, increased 0.8 percent to NT$80. Demand for leading-edge chip technology is still strong and the company’s outlook remains unchanged, Chairman Morris Chang said at a shareholders’ meeting yesterday.
Via Technologies Inc. (2388) (2388 TT), a chipmaker, tumbled 6.8 percent to NT$13.65, the lowest close since Dec. 4, 2008. Shareholders approved a plan to cancel 493 million shares, which is about half of its total outstanding shares.
“Investors are no longer confident the company can restructure itself after a capital reduction,” said Tom Tang, an assistant vice-president at Masterlink Investment Advisory.
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