Bloomberg News

Taiwan Stocks: Acer, China Airlines, Shin Kong Financial Holding

October 31, 2011

Oct. 31 (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 fell 0.4 percent to 7,587.69, snapping six days of gains. The gauge climbed 5 percent in October, the biggest monthly advance this year.

Acer Inc. (2353 TT), the world’s fourth-largest computer maker, lost 2 percent to NT$34.70, the lowest close since Oct. 7. The company expects its global shipments to fall 5 percent to 10 percent this quarter amid excess inventory, a slowing computer market and a shortage of disk drives.

China Airlines Ltd. (2610 TT), Taiwan’s biggest carrier, retreated 1.6 percent to NT$15.25. The company reported nine- month net income of NT$214 million ($7 million), compared with a profit of NT$10 billion a year earlier, the company said in a statement to the Taiwan stock exchange.

Shin Kong Financial Holding Co. (2888 TT) increased 0.8 percent to NT$9.46, the highest close since Sept. 16. Shin Kong Life will receive Qualified Foreign Institutional Investor status for Chinese investing as early as today, the Commercial Times reported, without saying where it obtained the information. Hsu Peng, spokesman for Shin Kong, didn’t immediately answer calls to his office.

--Editor: Richard Frost

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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