Bloomberg News

Taiwan Stocks: Far Eastern Department, Inotera, Nanya Technology

November 17, 2011

Nov. 17 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are of the close in Taipei trading.

The Taiex Index rose less than 0.1 percent to 7,387.81.

Memory-chip makers: Powerchip Technology Corp. (5346 TT) jumped 6.4 percent to NT$1.49 and Inotera Memories Inc. (3474 TT) gained 6.9 percent to NT$4.47. Both stocks surged 6.9 percent yesterday after Elpida Memory Inc. said it may cut some output. The comments were reported today in Taiwan’s Economic Daily.

Far Eastern Department Stores Ltd. (2903 TT) dropped 2.7 percent to NT$39.65. The retailer was cut to “hold” from “buy” at BNP Paribas SA.

Nanya Technology Corp. (2408 TT) slumped 6.4 percent to NT$2.50. The company approved the board’s proposal to sell as many as 15 billion shares through a private placement, Pai Pei- lin, a Nanya spokesman, said.

Separately,the memory-chip maker is “in the process of understanding” a patent infringement lawsuit brought by Elpida and hasn’t yet received the notice from the court.

--Editor: Darren Boey

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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