Taiwan Stocks: Nan Ya Printed, Radiant, Richtek, Sino-American
The Taiex Index rose 0.2 percent to 7,233.69, the highest close since Nov. 18. Today’s the last day of trade in Taiwan before it closes for Chinese New Year. The stock market will resume on Jan. 30.
Nan Ya Circuit Board Corp. (8046) (8046 TT), a supplier of printed circuit boards to Apple Inc., jumped 5.5 percent to NT$68.90, set for the highest close since Dec. 1, after Digitimes reported that shipments for the next-generation iPad would reach about 40 million this year.
Radiant Opto-Electronics Corp. (6176) (6176 TT) gained 5.2 percent to NT$103, the highest close since Sept. 16. The share-price estimate was raised 15 percent to NT$121 at Daiwa Capital Markets.
Richtek Technology Corp. (6286) (6286 TT) climbed 5.3 percent to NT$159, the highest close since Aug. 4, on expectation the integrated circuit maker’s first-quarter revenue will be better than the industry, spurred by new clients, said Chelsey Su, an analyst at Masterlink Securities Corp. KC Chang, a spokesman for the company, didn’t immediately answer calls to his office.
Sino-American Silicon Products Inc. (5483) (5483 TT) surged 6.2 percent to NT$54.90, the highest close since Oct. 17, tracking the gains of solar stocks overnight, said Daniel Tzeng, an analyst at Fubon Securities Co. Solar stocks in the U.S. rose on anticipation that lower-than-expected subsidy cuts in Germany will spur demand while an oversupply of panels may lead to consolidation.
Yang Ming Marine Transport Corp. (2609) (2609 TT) retreated 3.5 percent to NT$12.25, the lowest close since Jan. 2. Standard & Poor’s said in a statement yesterday thinning margin and weak demand will heighten the likelihood of recession for Taiwan’s non-technology companies in 2012. Container shipping is among the industries that will experience greatest credit deterioration if the global economy were to slow down significantly, according to the S&P statement.
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