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Taiwan Stocks: Chimei Innolux, Chroma ATE, Epistar, Everlight

Feb. 22 (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 benchmark Taiex Index rose 1 percent to 8,001.68.

Light-emitting diode makers: Epistar Corp. (2448 TT) jumped 7 percent to NT$80, the highest close since July 8. Everlight Electronics Co. (2393 TT) increased 4.1 percent to NT$68.50. Research firm LEDinside said in a report dated yesterday it’s a “matter of time” before LED lights become more affordable for consumers.

Chimei Innolux Corp. (3481 TT), Taiwan’s largest flat-panel maker, retreated 2 percent to NT$14.90, the lowest close since Feb. 2. The company’s foreign debt totaled NT$50 billion ($1.7 billion) to NT$60 billion, most of which is loans owed to China’s state banks, Commercial Times reported, without saying where it got the information. Eddie Chen, spokesman for the company, declined to comment on the report.

Chroma ATE Inc. (2360 TT) dropped 2.5 percent to NT$67.80, the lowest close since Feb. 7. The electronics maker was cut to “neutral” from “overweight” at HSBC Holdings Plc.

Foxconn Technology Co. (2354 TT) surged 6.7 percent to NT$136, the biggest advance since Feb. 8. The casing maker was rated “outperform” in new coverage at Credit Suisse Group AG.

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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