May 23 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 1:30 p.m. close. The Taiex Index fell 89.52, or 1 percent, to 8,747.51, the lowest level since April 19.
Delta Electronics Inc. (2308 TT): The maker of notebook computer power-supply pack shares slumped 6.1 percent to NT$108.50, the lowest level since July 23. The company’s share-price estimate was cut to NT$110 from NT$112 at JPMorgan Chase & Co. The brokerage maintained the shock’s rating at “neutral” and said it’s avoiding the stock within its technology portfolio.
E-Ton Solar Tech Co. (3452 TT) sank 6.9 percent to a record low of NT$26.30. The maker of solar cells plans to reduce the number of its employees by a third as factory output dropped to between 60 percent and 70 percent of capacity, the Apple Daily News reported, without saying where it got the information.
E-Ton Solar declined to confirm the news, saying the company “is making adjustments on its human resources because of a slowdown,” the Taipei-based newspaper cited Lo Lai-Huang, a company spokesman, as saying. Lo wasn’t immediately available for comment at his office.
Hon Hai Precision Industry Co. (2317 TT) dropped 2.9 percent to NT$100, the lowest since July 2. Three people were killed and 15 injured in a blast at Foxconn Technology Group’s Chengdu plant in southwest China’s Sichuan province. Hon Hai is the flagship company of Foxconn Technology Group and the maker of Apple Inc.’s iPhones and iPads.
Nanya Technology Corp. (2408 TT), a memory chipmaker, lost 6.9 percent to NT$11.55 on speculation the exchange may restrict trading because of a decline in the company’s book value per share, according to Daniel Lu, an analyst at Mega Securities Co.
The exchange may declare Nanya to be a “full-delivery” stock, barring trading of the shares using brokerage loans or short-selling, Lu said. Under exchange rules, a company may be classified as a “full-delivery” stock if its book-value per share falls below NT$10 for two consecutive quarters.
Nan Ya’s book-value-per-share was NT$5.85 in the first quarter and NT$8.11 in the fourth quarter of last year, data compiled by Bloomberg show. Michael Lin, a spokesman for Taiwan Stock Exchange, is overseas and couldn’t comment on the speculation immediately, according to his secretary.
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