Bloomberg News

Taiwan Equity Movers: Federal, Micro-Star, Powerchip, Powertech

March 03, 2012

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 benchmark Taiex Index (TWSE) dropped 0.4 percent to 8,114.44. It gained 2 percent this week, an eighth consecutive advance. The market is trading today to compensate for a holiday on Feb. 27.

Federal Corp. (2102) (2102 TT) gained 2 percent to NT$17.80, the highest close since Aug. 4, 2011. The tire maker plans to buy 114,577 square meters of land in Taoyuan county, northern Taiwan, for NT$1.4 billion ($48 million) for its own use, according to a company statement to the stock exchange.

Micro-Star International Co. (2377) (2377 TT) advanced 6.9 percent to NT$15.55, the highest close since March 11, 2011. The company will exhibit its new motherboards and computers at the CeBIT technology show in Hanover next week.

Powerchip Technology Corp. (5346) (5346 TT) rose 6.9 percent to NT$1.24, the biggest jump since Nov. 14, 2011. The chipmaker’s unconsolidated sales grew 5.4 percent to NT$1.71 billion in February from January.

Powertech Technology Inc. (6239) (6239 TT) sank 3.4 percent to NT$56.70, the lowest close since June 19, 2009. The stock extended declines following a bankruptcy filing by Japan’s Elpida Memory Inc. earlier this week. Powertech estimated it has NT$2 billion ($68 million) of net receivables from Elpida.

To contact the reporter on this story: Adela Lin in Taipei at alin95@bloomberg.net

To contact the editor responsible for this story: Paul Tighe at ptighe@bloomberg.net


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