Aug. 3 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the 1:30 p.m. close in Taipei.
The Taiex Index fell 127.86, or 1.5 percent, to 8,456.86, the lowest level since March 18. The drop today was the steepest since July 12.
Flat-panel makers: Chimei Innolux Corp. (3481 TT) jumped 6.8 percent to NT$15.70, the biggest advance since Sept. 3. AU Optronics Corp. (2409 TT) climbed 4.6 percent to NT$16.05 Investors “took opportunity of low prices” to buy the stocks, said Jerry Bau, an analyst at Jih Sun Securities Co. Qisda Corp. (2352 TT), a unit of AU, gained 4.3 percent to NT$9.05, snapping a four-day, 18 percent plunge.
“The prices are very weak and bad news has been priced in,” Bau said in a phone interview. The gains also came after Chimei’s client Sony Corp. said it plans to overhaul its money-losing television business to cut costs.
Epistar Corp. (2448 TT) slumped 6.9 percent to NT$61.80, the lowest close since April 20, 2009. Its share-price estimate was cut to NT$58.50 from NT$73 at Macquarie Group Ltd., which has an “underweight” rating on the light-emitting diode maker.
Everlight Electronics Co. (2393 TT) tumbled 6.9 percent to NT$56.90, the lowest close since March 9, 2009. Macquarie forecast the second-half outlook will be “soft” and said it saw the potential for intensified competition in lighting from China and Korea.
MStar Semiconductor Inc. (3697 TT) increased 5.2 percent to NT$143 after the chip designer was rated “outperform” in new coverage at Sanford C. Bernstein & Co. The brokerage has a 12-month share-price estimate of NT$210.
Powertech Technology Inc. (6239 TT), a chip-packaging and testing company, advanced 5.4 percent to NT$79.60, the steepest rise since April 29. The shares gained on speculation the company will get NAND flash chip packaging and testing orders from Intel Corp. and Micron Technology Inc., Diana Wu, a vice-president at Capital Securities Corp., said in an e-mail today. Evan Tseng, the company’s spokesman, wasn’t immediately available for comment at his office.
Wintek Corp. (2384 TT) added 2 percent to NT$37.75, the highest close since July 21. The company said July sales rose 16 percent from a year earlier to NT$8.56 billion ($296 million).
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