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Taiwan Stocks: Cathay Financial, Formosa Chemicals, TSMC

March 19 (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 fell 0.1 percent to 8,043.92.

Cathay Financial Holding Co. (2882 TT), Taiwan’s largest listed financial holding company, gained 1.9 percent to NT$35.20, the highest since Feb. 15. The company’s board plans to raise as much as NT$40 billion ($1.36 billion) by selling 1 billion new shares, and to sell as much as $400 million in overseas convertible bonds at zero coupon to replenish working capital, according to company statements to the Taiwan stock exchange on March 16.

Formosa Chemicals & Fibre Corp. (1326 TT) dropped 3 percent to NT$87.50, the most since Dec. 6. The company posted 2011 net income of NT$33 billion, according to a statement to the Taiwan stock exchange, compared with the NT$36.8 billion average of analyst estimates compiled by Bloomberg.

HannStar Display Corp. (6116 TT) slid 6.9 percent to NT$3.10, the lowest close since Feb. 10. The company plans to sell as many as 500 million shares to repay debts, according to a statement to the Taiwan stock exchange.

Taiwan Semiconductor Manufacturing Co. (2330 TT), the world’s largest contract maker of semiconductors, advanced 3.2 percent to a record high of NT$83.70. The company said it will probably boost spending amid growing demand for advanced technologies.

To contact the reporter on this story: Adela Lin in Taipei at

To contact the editor responsible for this story: Darren Boey at

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