Taiwan Equity Movers: Delta Electronics, Nan Ya Plastics Corp.

May 24 (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 dropped 0.3 percent to 7,124.89.

Delta Electronics Inc. (2308 TT) sank 5.3 percent to NT$83.30, the biggest drop since Aug. 19. The stock was rated a contrarian sell at Citigroup Inc., which said Delta’s strong first-quarter earnings results were probably due to one-off factors.

Nan Ya Plastics Corp. (1303 TT) dropped 1.6 percent to NT$55.60, the lowest close since Dec. 20. The plastics processor was cut to sell from neutral at Citigroup Inc.

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