Taiwan Stocks: Compal Electronics, Mediatek, MStar, HTC, Nan Ya
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 0.8 percent to 7,166.38, the lowest close since June 15. The gauge has climbed 1.3 percent this year, its first six-month gain since the second half of 2010.
Compal Electronics Inc. (2324) (2324 TT) dropped 2.5 percent to NT$26.90, the lowest close since Nov. 30. The world’s second- largest laptop maker forecast second-quarter notebook computer shipments will rise 10 percent from the previous three months, compared with a previous estimate of a 15 percent gain, JPMorgan Chase & Co. said, citing the company’s annual general meeting.
HTC Corp. (2498) (2498 TT), Asia’s second-biggest smartphone maker, fell 1.9 percent to NT$378.50. HTC will close its office in Durham, North Carolina, the company said in an e-mail. The company also announced it was shutting its office in Brazil in an e-mailed statement on June 22.
Mediatek Inc. (2454) (2454 TT) climbed 2.4 percent to NT$280.50, its highest close since April 16. The chip designer agreed to buy MStar Semiconductor Inc. (3697) (3697 TT) in a stock-and-cash deal that values the smaller rival at $3.8 billion. MStar surged 6.9 percent to NT$195, the biggest jump since Dec. 21.
Nan Ya Plastics Corp. (1303) (1303 TT) retreated 4 percent to NT$52.80. The plastics processor was cut to reduce, the equivalent of sell, from hold at BNP Paribas SA.
Ta Chong Bank Ltd. (2847) (2847 TT), partly owned by Carlyle Group LP, advanced 4.3 percent to NT$9.19, the biggest increase since May 18. The company is building a presence in the China market, amid progress in Taiwan-China ties, Michael On, president of Beyond Asset Management Co. said in a phone interview. Taiwanese may be allowed to buy and sell Chinese stocks through securities houses, the Economic Daily News reported today, without saying where it got the information.
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