Nov. 9 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 10:19 a.m. in Taipei.
The Taiex Index rose 0.3 percent to 7,623.90, set for the highest close since Sept. 2.
Cathay Financial Holding Co. (2882 TT) gained 1.2 percent to NT$34.45. Cathay Life Insurance Co.’s venture with China Eastern Air Holding Co. received approval from the China Insurance Regulatory Commission to upgrade its outlet in the southeastern Xiamen city to a branch, parent Cathay Financial said in a statement to the Taiwan stock exchange yesterday.
Epistar Corp. (2448 TT), a light-emitting diode maker, dropped 4.4 percent to NT$65, set for the biggest decline since Oct. 3. October sales slid 26 percent from a year earlier to NT$1.3 billion ($43 million), the company said.
Powerchip Technology Corp. (5346 TT), a chipmaker, gained 1.1 percent to NT$0.96 after selling its stake in Power ASE Technology Inc. The stock also rebounded after its relative strength index reached 26.39 following an 83 percent slump in its share price this year. The RSI measures how rapidly prices have advanced or declined during the specified time period. Some analysts see a reading of less than 30 as a signal to buy.
Quanta Computer Inc. (2382 TT), the world’s largest laptop maker, increased 2 percent to NT$62.20 after October sales advanced 20 percent from a year earlier to NT$107 billion.
Wistron Corp. (3231 TT), a laptop maker, rose 2.3 percent to NT$38.45, a fourth day of gains, after October sales increased 26 percent from a year earlier to NT$57 billion.
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