Taiwanese Stocks: Chunghwa Telecom, Hon Hai, Want Want China
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 (TWSE) rose 0.5 percent to 7,127, its first gain in four days.
Chunghwa Telecom Co. (2412) (2412 TT), a telecommunication operator, rose 1.4 percent to NT$89.5. The company signed an agreement with Arkadin for a partnership yesterday.
Hon Hai Precision Industry Co. (2317 TT), the maker of Apple Inc. iPads, added 1.1 percent to NT$88.5. The company’s earnings may recover in the second half of the year and 2013, Deutsche Bank AG said in a note.
Want Want China Holdings Ltd. (151) (9151 TT), China’s largest maker of rice cake, fell 1.2 percent to NT$36.55, the lowest in almost two weeks. A large warehouse owned by Want Want in China’s east city of Changsha was destroyed by a fire yesterday with a property loss of over 100 million yuan ($15.7 million), the Hong Kong Economic Journal reported. Wang Yi, a company representative, declined to comment immediately.
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