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Taiwan Stocks: Catcher Technology, Phison, Taiwan Cooperative

Jan. 21 (Bloomberg) -- Stocks of the following companies had unusual price changes in Taipei trading. Stock symbols are in parentheses, and prices are as of the 1:30 p.m. close.

Taiwan’s Taiex Index fell 67.79, or 0.8 percent, to 8,954.38, the biggest drop since Jan. 7. The benchmark retreated 0.2 percent this week.

Catcher Technology Co. (2474 TT) gained 2.1 percent to NT$119.50, the highest level since Jan. 7, 2008, after MoneyDJ reported the company’s fourth-quarter gross margin may improve from 33.92 percent in the third quarter. Jiun-Yi Wu, Catcher’s spokesman, didn’t immediate answer calls to his office.

Phison Electronics Corp. (8299 TT) increased 4.7 percent to NT$189.50, the highest close since April 26, as investors expect demand for NAND flash chips will be strong this year, said Jack Hung, an analyst at Mega Securities Co.

Taiwan Cooperative Bank (5854 TT) lost 0.6 percent to NT$24.40. The financial services company’s board approved plans to sell up to NT$15 billion ($515 million) of subordinated debt to improve its adequacy ratio, the Taipei-based lender said in an exchange statement yesterday.

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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