Taiwan Stocks: Coretronic, Novatek Microelectronics

Dec. 7 (Bloomberg) -- Taiwan’s Taiex Index was little changed at 8,704.39 at the 1:30 p.m. Taipei trading.

Coretronic Corp. (5371 TT) increased 1.9 percent to NT$47.95, the highest since Oct. 26. The company and Gunze Ltd. will form a venture to make touch panels, Tatsuya Ban, spokesman for Osaka-based Gunze said today by phone. The Nikkei newspaper earlier reported the two companies will set up a factory in Guangzhou, China to make touch panels, without citing anyone. Wen Huei-ping, a spokeswoman at Coretronic, didn’t answer calls to her office.

Novatek Microelectronics Ltd. (3034 TT) gained 1.2 percent to NT$100.50, the highest since May 7, after November sales gained 31 percent to NT$3.1 billion.

To contact the reporter on this story: Weiyi Lim in Taipei at Wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net