Taiwanese Stocks: Formosa Plastics, Hon Hai Precision, TPK
Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 9:25 a.m. in Taipei.
The Taiex Index (TWSE) rose 0.1 percent to 7,114.22.
Formosa Plastics Corp. (1301) (1301 TT) climbed 1.2 percent to NT$75.9. The company sold NT$2.1 billion ($70 million), five- year bonds at an annual yield of 1.28 percent and NT$2.9 billion, seven-year bonds at 1.4 percent in an auction that closed on July 12. The proceeds will be used to repay debt and improve its financial structure, it said in a statement.
Hon Hai Precision Industry Co. (2317) (2317 TT), the maker of Apple Inc. iPads, rose 1.2 percent to NT$88, the first gain in five days. The company said its subsidiaries have invested a total of $146 million in four units in China.
TPK Holding Co. (3673 TT), a supplier of touch screens to Apple Inc., gained 2.4 percent to NT$341. Demand for touch panels will be strong from Intel Corp. and Microsoft Corp. until March, the Economic Daily News reported, citing TPK President and Chief Executive Officer Sun Ta-Ming.
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