Taiwan Stocks: Powerchip Technology, United Microelectronics

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 gained 0.7 percent to 7,345.16, the highest close since May 17.

Powerchip Technology Corp. (5346) (5346 TT) gained 5.5 percent to NT$0.58. The chipmaker and its fully owned Li Hsin Investment unit will sell 634 million shares in Rexchip Electronics Co. (4932) (4932 TT) to Micron Technology Inc. at NT$14.03 each, the company said in exchange filing. The sale is conditional on Micron’s purchase of Elpida Memory Inc., Eric Tang, a spokesman for Powerchip, said by phone today. Rexchip surged 6.7 percent to NT$9.50, the biggest jump since March 30.

Siliconware Precision Industries Co. (2325) (2325 TT) climbed 4 percent to NT$32.45, extending a 2.3 percent gain on June 29. The board approved a plan to buy 22.9 million shares in Microcircuit Technology Pte Ltd. for $20.5 million, the company said in a stock exchange statement on June 28.

United Microelectronics Corp. (2303) (2303 TT) increased 3.9 percent to NT$13.40, the highest close since May 17. The world’s second-largest maker of custom chips and International Business Machines Corp. will co-develop semiconductors using 20-nanometer technology, the company said in a statement to the Taiwan Stock Exchange.

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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