Bloomberg News

Taiwan Stocks: Hon Hai Precision, Motech Industries, Quanta

March 30, 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 advanced 0.8 percent to 7,933. The gauge dropped 2.3 percent in March, trimming this quarter’s gains to 12 percent, the best three-month performance since the period ended September 2010.

Hon Hai Precision Industry Co. (2317) (2317 TT), a unit of Foxconn Technology Group, retreated 1.3 percent to NT$114.50, the most since March 20. An audit of Foxconn found “serious and pressing” violations of Chinese labor laws. Inspectors found at least 50 breaches of Chinese regulations as well as the code of conduct Apple signed when it joined the Fair Labor Association in January after deaths of workers at suppliers, the monitoring group said today.

Motech Industries Inc. (6244) (6244 TT), a solar-cell maker, dropped 3.9 percent to NT$49.20, the lowest close since Dec. 20, after Germany’s parliament approved record cuts for solar- power incentives, aiming to reduce annual pace of installations by half.

Quanta Computer Inc. (2382) (2382 TT) surged 6.9 percent to NT$77.30, the highest close since April 19, 2002. The world’s largest laptop maker reported fourth-quarter net income of NT$6.53 billion ($221 million), higher than the NT$5.52 billion average of 14 analyst estimates, according to data compiled by Bloomberg.

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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