Bloomberg News

Taiwan Stocks: Acer, E Ink, HTC, Shin Kong Financial Holding

November 25, 2011

Nov. 25 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are at 10:10 a.m. in Taipei.

The Taiex Index rose less than 0.1 percent to 6,867.33. The index is set to decline 5 percent this week, its biggest drop since September.

Acer Inc. (2353 TT) gained 4.4 percent to NT$31.95, bound for the largest rally since Nov. 7. Acer Inc. expects its sales of smartphones in Taiwan to climb 20 percent to 30 percent next year, Henry Wang, spokesman for the Taipei-based company said by phone today. The company doesn’t have a forecast for its global smartphone sales growth, according to Wang.

E Ink Holdings Inc. (8069 TT) lost 2.2 percent to NT$49.50, a fourth days of declines. LG Display Co., E Ink, E Ink’s unit Hydis Technologies Co. and E Ink’s parent Yuen Foong Yu Paper Manufacturing Co. agreed to end an investment agreement reached in December 2009, E Ink said in a statement to the Taiwan Stock Exchange yesterday.

HTC Corp. (2498 TT), the largest seller of smartphones in the U.S., slumped 6.1 percent to NT$494, extending yesterday’s 6.9 percent drop. The company was cut to “hold” from “buy” at BNP Paribas SA, lowered to “sell” from “hold” at Citigroup Inc. and reduced to “equalweight” from “overweight” at Barclays Capital.

Shin Kong Financial Holding Co. (2888 TT) increased 1.7 percent to NT$7.88, the first increase in nine days. Shin Kong Life Insurance Co. bought NT$3.42 billion ($112 million) of real estate in Taipei city yesterday, parent Shin Kong Financial said in a statement to the Taiwan stock exchange.

--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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