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Taiwan Stocks: EVA Airways, Farglory, Fubon Financial, Via Tech

Sept. 23 (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 259.28 points, or 3.6 percent, to 7,046.22, the lowest close since Sept. 2, 2009. The gauge has dropped 7 percent this week, the steepest drop in seven weeks.

Carriers: EVA Airways Corp. (2618 TT) surged 6.7 percent to NT$18.25. China Airlines Ltd. (2610 TT) advanced 4.4 percent to NT$14.30 after Hwang Jung-chiou, Taiwan’s deputy minister at the Ministry of Economic Affairs, said the island and Japan are in talks on an open-skies agreement.

Farglory Land Development Co. (5522 TT) retreated 3.8 percent to NT$50.80. The construction company’s board has authorized its chairman to spend as much as NT$7.5 billion ($244.7 million) to buy land in Taipei and New Taipei, the company said in a statement to the Taiwan stock exchange.

Fubon Financial Holding Co. (2881 TT) slid 7 percent to NT$32.10, the lowest close since June 10, 2010. Fubon Life Insurance Co. bought 20 million shares of Tenfu Holdings Company Ltd. at HK$6 each in an initial public offering, Fubon Financial, parent of the insurer, said in a statement to the Taiwan stock exchange yesterday.

Via Technologies Inc. (2388 TT), a computer processor company, lost 4.3 percent to NT$24.80. The company sued Apple Inc. in Delaware, alleging the company’s portable electronic products infringe U.S. patents, according to a court document on Sept. 21.

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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