Bloomberg News

Taiwan Equity Movers: MediaTek Inc., Motech Industries

February 13, 2012

Feb. 13 (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 0.6 percent to 7,912.91, the highest since Aug. 4.

MediaTek Inc. (2454 TT) jumped 6.9 percent to NT$311.50, the highest close since Nov. 15. The chip designer may win clients after showcasing a new product at the Mobile World Congress, the Economic Daily News reported, citing market speculation. David Ku, spokesman for MediaTek, wasn’t immediately available for comment.

Motech Industries Inc. (6244 TT) retreated 4.9 percent to NT$63.70, the biggest decline since Dec. 15. The solar cell- maker declined to comment in a statement to the Taiwan stock exchange on an Economic Daily News report today that a director, Lee Ching-ming, was investigated for alleged insider trading. Operations at the company aren’t affected, according to the statement. Lee wasn’t available to take calls made today to Motech headquarters in Tainan.

--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


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