Taiwanese Stocks: Inotera Memories, Hon Hai, Nan Ya, Quanta
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) fell 1.1 percent to 7,049.05, the lowest close since June 8.
Inotera Memories Inc. (2474) (3474 TT), a maker of memory chips, slid 6.9 percent to NT$5.53, its 10th day of declines. The stock is headed for the longest losing streak since June 20, 2011. The company may post a second-quarter net loss of NT$3.2 billion ($106.9 million), according to the average of 10 analysts’ estimates. The earnings report is due today.
Hon Hai Precision Industry Co. (2317) (2317 TT), the maker of Apple Inc. iPads, dropped 1.7 percent to NT$87. Parent Foxconn Technology Group’s talks with the Brazilian government to build a liquid-crystal display plant in the South American country are at an impasse because of a dispute over which technology will be used, Folha de S.Paulo reported yesterday.
Nan Ya Printed Circuit Board Corp. (8046) (8046 TT) fell 1.7 percent to NT$46, its lowest close since June 19. Intel Corp., the world’s largest semiconductor maker, gave a third-quarter sales forecast that fell short of some analysts’ estimates. The printed circuit-board maker derives about 30 percent of sales from Intel, Andrew Chen, an analyst at Yuanta Securities Co., said in a report.
Quanta Computer Inc. (2382) (2382 TT), the world’s largest laptop maker, slid 5.3 percent to NT$71.4, the lowest close since March 26. Citigroup Inc. downgraded the stock to sell, citing low- priced tablets and new iPhone will eat into demand for personal computers and notebooks, Kevin Chang, an analyst at the U.S. bank, wrote in a report.
--Zhang Shidong. Editor: Chan Tien Hin
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