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Taiwan Stock Movers: Delta Electronics, Hon Hai Precision, HTC

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 retreated 272.01 points, or 3.6 percent, to 7,342.96, the lowest close since July 2, 2010. The measure has dropped 3.9 percent this week, a fourth weekly decline and the longest series of losses since October 2008.

Exporters: HTC Corp. (2498 TT), Asia’s second-biggest maker of smartphones that generated half of its 2010 revenue from America, sank 7 percent to NT$719, the biggest drop since Aug. 3, 2009. Hon Hai Precision Industry Co. (2317 TT), the world’s largest maker of electronics, fell 5.3 percent to NT$68, the lowest close since April 30, 2009. Citigroup Inc. cut its forecasts for U.S. growth after data yesterday showed jobless claims rose and Philadelphia-area manufacturing shrank by the most since 2009.

Delta Electronics Inc. (2308 TT), a maker of notebook computer power-supply packs, dropped 6.4 percent to NT$70.7, the lowest since June 2009. Delta plans to eliminate 10 percent of its workforce in China, or 6,000 workers, as a cost-cutting measure, Economic Daily News reported, citing Yancey Hai, chief executive officer of the company. Hai couldn’t be reached when called at his office in Taipei.

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