Bloomberg News

Taiwan Stocks: Elan Microelectronics, Hiwin Technologies, HTC

February 07, 2012

Feb. 7 (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 rose 0.3 percent to 7,707.44.

Elan Microelectronics Corp. (2458 TT) advanced 2.1 percent to NT$33.50, the highest close since Aug. 4. The integrated circuit maker said January sales rose 23 percent from a year earlier to NT$517.7 million ($17.5 million), according to a statement filed to the Taiwan Stock Exchange.

Hiwin Technologies Corp. (2049 TT) gained 6.4 percent to NT$315.50, the highest close since Sept. 5. The ball-bearing maker was raised to “buy” from “neutral” at Citigroup Inc., which cited market-share gains and strong profitability.

HTC Corp. (2498 TT), Asia’s second-largest smartphone maker, slumped 6.9 percent to NT$513, the most since Dec. 5. The Taoyuan-based company forecast in a statement yesterday that sales this quarter will be NT$65 billion to NT$70 billion, compared with the NT$84.9 billion average of 14 analyst estimates compiled by Bloomberg.

The company was cut to “sell” from “hold” at Daiwa Capital Markets, lowered to “reduce” from “neutral” at Nomura Holdings Inc. and had its share-price estimate trimmed 6 percent to NT$386 at HSBC Holdings Plc.

--Editor: Richard Frost

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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