Bloomberg News

Taiwan Stocks Movers: E.Sun, Chimei Innolux, Inotera, Yuanta

December 28, 2011

Dec. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei.

The Taiex Index fell 0.4 percent to 7,056.67, sliding for a third day and taking its decline this year to 21 percent.

Chipmakers: Nanya Technology Corp. (2408 TT) advanced 3.6 percent to NT$2.32. Inotera Memories Inc. (3474 TT) rose 6.9 percent to NT$5.14, the highest close since Oct. 21. The price of DDR3 2-gigabit dynamic random-access memory climbed 1.2 percent yesterday, its first gain since Dec. 14, according to data by TrendForce Corp.’s DRAMExchange.

Chimei Innolux Corp. (3481 TT), Taiwan’s largest maker of liquid-crystal displays, sank 3.5 percent to NT$12.45, its biggest drop since Dec. 15. Chimei will cut spending on equipment by around 40 percent as it slows expansion amid a global oversupply of panels used in televisions and computers. Next year’s budget will be around NT$30 billion ($990 million) from NT$50 billion this year, Eddie Chen, chief financial officer of the company, said.

E.Sun Financial Holding Co. (2884 TT) rose 0.8 percent to NT$13.20, the highest close since Dec. 142. Its banking unit received China regulatory approval to set up a branch in Dongguan in southern China, according to a statement to the stock exchange.

Yuanta Financial Holding Co. (2885 TT) climbed 0.7 percent to NT$15.45, halting a two-day, 1.9 percent loss. Yuanta plans to buy back 201 million common shares, according to a company statement to the stock exchange.

--Editor: Shiyin Chen

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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