July 11 (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.n. close in Taipei.
The Taiex Index fell 83.70 points, or 1 percent, to 8,665.85.
Cathay Financial Holding Co. (2882 TT) advanced 0.9 percent to NT$44.60. The island’s largest listed financial services company reported unaudited first-half net income of NT$6.62 billion ($230 million), or NT$0.64 per share, according to a statement to the Taiwan stock exchange yesterday. It didn’t give comparative figures.
Epistar Corp. (2448 TT) slumped 6.2 percent to NT$76 as investors speculate demand for light-emitting diodes in the second half may be below expectations, said Andrew Chen, an analyst at Yuanta Securities Co. Shie-Shien Chang, spokesman for the company, wasn’t immediately at his office for comment.
MediaTek Inc. (2454 TT) lost 4.7 percent to NT$275, the lowest close since Feb. 17, 2009, on concern third-quarter sales at the chip designer will weaken following an drop in June revenue. The stock extended a two-day, 6.6 percent slump. The company reported on July 7 an 18 percent drop in June revenue. Credit Suisse Group AG said in a July 8 report that the company’s third-quarter outlook remains “muted,” and kept its rating at “underperform.”
Motech Industries Inc. (6244 TT) advanced 1.6 percent to NT$95 amid speculation factory usage in the third quarter will increase from the previous three months, signifying the worst for the solar industry is over, said Charlie Yeh, an analyst at President Securities Corp. Jack Hsieh, chief financial officer for the solar-cell maker, didn’t immediately answer calls to his office.
Pegatron Corp. (4938 TT) gained 1.9 percent to NT$34.55, the highest close since April 21. The electronics contract maker said June sales rose 60 percent from a year earlier to NT$36.2 billion.
RichTek Technology Corp. (6286 TT) dropped 4.1 percent to NT$164 on concern third-quarter orders may not be “optimistic,” said Amigo Liu, an analyst at KGI Securities Co. KC Chang, spokesman for the company, and Lorna Li, deputy spokesman, weren’t available for comment at their offices. The company said on July 7 that June sales fell 12.2 percent from a year earlier.
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