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Taiwanese Stocks: Formosa, Hon Hai Precision, TPK Holding, TSMC

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July 16 (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 dropped 0.2 percent to 7,090.04, sliding for a third day.

Formosa Plastics Corp. (1301 TT) climbed 2.9 percent to NT$77.2. The company sold NT$2.1 billion ($70 million), five-year bonds at an annual yield of 1.28 percent and NT$2.9 billion, seven-year bonds at 1.4 percent in an auction that closed on July 12. The proceeds will be used to repay debt and improve its financial structure, it said in a statement.

Hon Hai Precision Industry Co. (2317 TT), the maker of Apple Inc. iPads, rose 0.6 percent to NT$87.5, the first gain in five days. The company said its subsidiaries have invested a total of $146 million in four units in China.

TPK Holding Co. (3673 TT), a supplier of touch screens to Apple Inc., gained 0.3 percent to NT$334, the highest in a week. Demand for touch panels will be strong from Intel Corp. and Microsoft Corp. until March, the Economic Daily News reported, citing TPK President and Chief Executive Officer Sun Ta-Ming.

Taiwan Semiconductor Manufacturing Co. (2330 TT), the world’s largest maker of custom chips, slipped 0.4 percent to NT$75.5, its lowest close since Jan. 16. The stock was downgraded to neutral from buy by Stefan Chang, an analyst at SinoPac Securities Co.

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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