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Taiwan Stocks: Acer, Asia Optical, Chimei, Epistar, Yulon Motor

Feb. 8 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei.

The Taiex Index rose 2.1 percent to 7,869.91, the highest close since Aug. 4.

Acer Inc. (2353 TT) increased 2.1 percent to NT$43.30 after suing its former president for breach of a non-compete clause in an Italian court. Acer is seeking damages as part of its case against former president and chief executive officer Gianfranco Lanci, who departed in March last year and joined Lenovo Group Ltd. in September as a consultant.

Asia Optical Co. (3019 TT) surged by the 6.8 percent daily limit to NT$30.50, the highest close since Nov. 17. The electronics maker has become an Apple Inc. supplier, the Economic Daily News reported, without saying where it got the information. Cheng Yi-Lin, spokesman for Asia Optical, wasn’t immediately available for comment at his office.

Apple may introduce a new iPhone model in July, according to the report. Catcher Technology Co. (2474 TT), a casing maker for iPhone, jumped 7 percent to NT$200, the most since April 20. Largan Precision Co. (3008 TT), a lens maker, climbed 5.2 percent to NT$694.

Chimei Innolux Corp. (3481 TT) rose 4.2 percent to NT$17.30, the highest close since July 22, after Liberty Times reported Terry Gou, Foxconn Technology Group’s chairman, may become chairman of Chimei at an election tomorrow. Chimei’s Chief Financial Officer Eddie Chen declined to comment when contacted on his mobile phone today. Edmund Ding, a spokesman for Foxconn Technology, didn’t answer calls to his mobile phone.

Epistar Corp. (2448 TT) gained 2 percent to NT$78.50, the highest close since July 8. The light-emitting diode maker was raised to “overweight” from “neutral” at JPMorgan Chase & Co.

Radiant Opto-Electronics Corp. (6176 TT) increased 6.7 percent to a record NT$127. Daiwa Capital Markets raised its stock estimate by 24 percent and maintained its “buy” rating on Radiant’s shares.

Yulon Motor Co. (2201 TT) advanced 3.1 percent to NT$62.50, the highest close since Nov. 15. Yulon Group is targeting 25 percent sales growth for 2012, Commercial Times reported, without saying where it got the information. Hsiao Ming-huei, spokesman for the company, didn’t immediately answer calls to his office.

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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