Taiwan Stocks: ENG Electric, Hon Hai Precision Industry, Largan

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 Taiex Index rose 0.6 percent to 7,183.01, snapping four days of declines. The gauge has climbed 1.6 percent this year, its first six-month gain since the second half of 2010.

Hon Hai Precision Industry Co. (2317) (2317 TT) increased 0.6 percent to NT$86.50. The world’s largest maker of electronics got the exclusive rights to make the next iPhone model for Apple Inc., the Economic Daily News reported, citing unidentified people in the industry. Simon Hsing, a spokesman for Hon Hai, declined to comment on the report. The newspaper also said the new iPhone may start shipments from August. Largan Precision Co. (3008) (3008 TT), a lens maker for Apple products, surged 5.3 percent to NT$612.

ENG Electric Co. (8287) (8287 TT) gained 2.4 percent to NT$51.80, the biggest advance since June 7. The consumer electronics product maker said it bought 4 million shares, representing a 6.66 percent stake, in Sino-American Electronic Co. (6107) (6107 TT) for NT$200 million in a private placement. Sino-American, a power supplier maker, retreated 0.2 percent to NT$54.

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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