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Taiwan Stocks: Gintech Energy, Hon Hai, Novatek, Qisda

Aug. 31 (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. in Taipei.

The Taiex Index rose 95.17 points, or 1.2 percent, to 7,741.36. The benchmark dropped 10 percent this month, the most since October 2008.

Gintech Energy Corp. (3514 TT) increased 5.9 percent to NT$43. The solar-cell maker was raised to “neutral” from “underperform” by Credit Suisse Group AG analyst Darryl Cheng. The share-price estimate is NT$38.

Hon Hai Precision Industry Co. (2317 TT), the world’s largest contract manufacturer of electronics, rallied for a second day, climbing 6.9 percent to NT$73.30 after Barclays Plc forecast a “solid” third quarter for the company. Barclays said the stock is “oversold,” analysts Kirk Yang and Wayne Dong said in a report dated yesterday.

Novatek Microelectronics Corp. (3034 TT) surged 6.7 percent to NT$76, the biggest advance since Dec. 11, 2009, after China Times reported it got orders from HTC Corp. and Apple Inc. David Chen, spokesman for the company, didn’t immediately answer calls to his office.

Qisda Corp. (2352 TT) jumped 6.9 percent to NT$8.03, the highest close since Aug. 16. It reported net income of NT$130 million in the second quarter, compared with a loss in the first quarter.

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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