Bloomberg News

Taiwan Stocks: Cheng Shin Rubber, MStar, Largan, Powerchip

November 15, 2011

Nov. 15 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are at 10:57 a.m. in Taipei.

The Taiex Index fell 0.4 percent to 7,498.50, set to snap two days of gains.

Analyst Ratings: Largan Precision Co. (3008 TT) dropped 1.8 percent to NT$612. Cheng Shin Rubber Industry Co. (2105 TT) retreated 3 percent to NT$65. Chinatrust Financial Holding Co. (2891 TT) lost 1.7 percent to NT$17.75. The three companies were recommended as the top picks to sell by Daiwa Capital Markets in a report dated yesterday.

Fast Technologies Inc. (5205 TT), a software maker, gained 2.4 percent to NT$40.4, set for the biggest advance since Nov. 3. The company’s board agreed to buy back one million shares at between NT$35 and NT$90 each from tomorrow to Jan. 14, the company said in an exchange statement yesterday.

MStar Semiconductor Inc. (3697 TT) increased 2 percent to NT$179.50. The chip designer will supply Toshiba Corp., the Taiwan-listed company said in a statement on its website.

Powerchip Technology Corp. (5346 TT) surged 6.5 percent to NT$1.31 after the company said it is seeking an extension of debt repayments.

Silicon Integrated Systems Corp. (2363 TT) jumped 4.1 percent to NT$11.05, set for the biggest advance since Aug. 15. The computer chipset maker’s board agreed to buy back 30 million shares, or 4.39 percent of its outstanding stock

--Editor: Matthew Oakley

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


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus