Bloomberg News

Taiwan Stocks: AU Optronics, Powerchip, Taiwan Life Insurance

March 13, 2012

Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 9:32 a.m. local time in Taipei.

The benchmark Taiex Index rose 1.4 percent to 8,141.04.

AU Optronics Corp. (2409) (2409 TT) fell 1 percent to NT$15.70 after a federal jury in San Francisco found a vice chairman and a senior vice president guility of colluding with rivals to fix prices. AU Optronics said it will appeal the verdict and a fine that it expects to be issued within the next few months.

Powerchip Technology Corp. (5346) (5346 TT) gained 3.2 percent to NT$1.28. The chipmaker got agreements from 41 lenders to extend mid- to long-term loans by one year, according to a statement to the Taiwan stock exchange.

Taiwan Life Insurance Co. (2823) (2833 TT) increased 1.7 percent to NT$21.20, set for the highest close since Feb. 13. The company got a $100 million quota as a Qualified Foreign Institutional Investor from China’s State Administration of Foreign Exchange, according to a statement to the Taiwan stock Exchange.

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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