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Taiwanese Stocks: Formosa Petrochemical, Huaku, Wintek

Stocks 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 dropped 30.37 points, or 0.4 percent, to 7,312.59, the lowest since July 1, 2010.

Formosa Petrochemical Corp. (6505), Taiwan’s only publicly traded oil refiner, advanced 1.5 percent to NT$80. It resumed operations at a crude-distillation unit yesterday, ICIS reported, citing unidentified people familiar with the situation. Lin Keh-yen, a Taipei-based company spokesman, declined to comment by phone today.

Huaku Development Co. (2548 TT) fell 4.1 percent to NT$68.30, the lowest since Sept. 4, 2009. The company sees no reason for Taiwan’s property market to improve because of uncertainties over the global economy and upcoming presidential elections, the Economic Daily News reported today, citing Chairman Chung Long-chang. Chung didn’t immediately respond to two phone calls made to his office seeking comment.

Wintek Corp. (2384 TT) fell 6.9 percent to NT$26.45, the lowest since July 30, 2010. The touch panel maker was cut to “underweight” from “overweight” by Jamie Yeh, an analyst at Barclays Capital.

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