Bloomberg News

Taiwan Stocks: Acer, Chinatrust, Inventec, Taiwan Semiconductor

October 28, 2011

Oct. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are at the close in Taipei.

The Taiex Index rose 0.7 percent to 7,616.06, the highest close since Sept. 2 and the sixth day of gains. That’s the longest winning streak since July 6. The benchmark index jumped 5 percent this week, the biggest advance since Sept. 5, 2009.

Acer Inc. (2353 TT) gained 0.7 percent to NT$35.40. The world’s fourth-largest computer maker appointed Oliver Ahrens, president of Acer China, to head its Europe, Middle East and Africa operations, the company said in an e-mailed statement. Scott Lin, president of Acer Taiwan, will head China operations, the statement said.

Chinatrust Financial Holding Co. (2891 TT) advanced 1.8 percent to NT$19.70, the highest close since Oct. 11. Chinatrust Venture Capital Co.’s board approved a plan to invest as much as $2 million to set up an investment management company in Shanghai, parent Chinatrust Financial said in a statement to the Taiwan stock exchange yesterday.

Inventec Corp. (2356 TT) slumped 4.8 percent to NT$10.90, the biggest drop since Sept. 22, after the laptop computer maker said it will fire about 400 employees after an earlier decision to shut its tablet computer production.

Rexchip Electronics Corp. (4932 TT) increased 1.7 percent to NT$9.15. Elpida Memory Inc. plans to shift output capacity of 50,000 chip wafers a month from its plant in Hiroshima, Japan, to its Rexchip unit in Taiwan.

Taiwan Semiconductor Manufacturing Co. (2330 TT) climbed 1.7 percent to NT$73.10, a three-month high, after the world’s largest contract maker of chips forecast sales of as much as NT$105 billion ($3.51 billion) this quarter, better than analyst estimates of NT$103 billion, it said.

--Editor: Shiyin Chen

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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