June 11 (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 1.7 percent to 7,120.23, the highest close since May 31.
Advanced Semiconductor Engineering Inc. (2311 TT), an integrated circuit maker, dropped 1.7 percent to NT$25.60, the lowest close since Jan. 2. The company said June 9 in an exchange filing that prosecutors were investigating some employees over a 2009 tender offer for Universal Scientific Industrial. The investigation is not related to its company business or operations, said the filing.
Hon Hai Precision Industry Co. (2317 TT) added 2.6 percent to NT$83.80. The world’s largest electronics maker said May sales gained 20 percent from a year earlier to NT$241 billion ($8 billion), according to a statement to the Taiwan Stock Exchange.
HTC Corp. (2498 TT), Asia’s second-largest smartphone maker, fell 1.4 percent to NT$347, the lowest close since April 6, 2010. The stock was cut to neutral from buy at Goldman Sachs Group Inc., with the price target estimate reduced to NT$360 from NT$680. The company was also lowered to underweight, the equivalent of sell, from neutral by JPMorgan Chase analyst Alvin Kwock. The cut reflects lower margin estimates due to “inferior scale,” Kwock said in a note to investors.
Quanta Computer Inc. (2382 TT) climbed 5.6 percent to NT$81.30, the biggest advance since May 4. The world’s largest laptop maker had sales of NT$72.7 billion in May, compared with NT$68 billion in April, according to a statement to the Taiwan stock exchange.
Ruentex Industries Ltd. (2915 TT), which owns a stake in RT-Mart China, the country’s largest hypermarket chain, surged by the 6.9 percent daily limit to NT$48.65. China’s trade expanded more than economists estimated in May, easing inflation and providing leeway to policymakers to ease monetary policy.
Pegatron Corp. (4938 TT) rose 1.1 percent to NT$42.45. The electronics maker said May sales more than doubled from a year ago to NT$50.5 billion, according to a statement to the Taiwan exchange.
Taiwan Semiconductor Manufacturing Co. (2330 TT) gained 3.2 percent to NT$80.40, the highest close since May 31. The world’s largest maker of custom chips said May sales rose 21 percent from a year earlier to NT$43.6 billion, according to a statement to the Taiwan Stock Exchange.
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