Taiwan Stocks: Digital China, E Ink, Hon Hai, TPK, Wintek
Taiwan’s Taiex Index fell 31.58, or 0.4 percent, to 8,297.05 at the 1:30 p.m. Taipei trading close..
Touch-panel companies: TPK Holding Co. (3673 TT) surged 6.1 percent to a record high of NT$594 after the company was rated “buy” in new coverage by UBS AG, which said the touch-panel company is the biggest beneficiary from the growth in tablet computers. The brokerage has a share-price estimate of NT$655 for TPK, according to the report by Arthur Hsieh.
Wintek Corp. (2384 TT), a competitor, gained 4 percent to NT$49.90 after it was rated “neutral” in new coverage by UBS. The brokerage has a share-price estimate of NT$53.
Digital China Holdings Ltd. (910861 TT) advanced 3.3 percent to NT$31.20 on its first day of trading. The company offered its Taiwan depositary receipts at NT$30.20 each.
E Ink Holdings Inc. (8069 TT) increased 4 percent to NT$54.60, the highest since Oct. 12. Goldman Sachs Group Inc. raised its share-price estimate for E Ink to NT$80 from NT$68, citing stronger demand for the Kindle device by Amazon.com Inc., the company’s client. The brokerage maintained its “buy” rating on the stock, according to the report by analysts including Robert Chen.
Hon Hai Precision Industry Co. (2317 TT) dropped 0.9 percent to NT$112 after the world’s largest electronics maker was cut to “neutral” from “buy” by SinoPac Securities Co.
To contact the reporter on this story: Weiyi Lim in Taipei at Wlim26@bloomberg.net
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