Bloomberg News

Taiwan Stock Movers: Asustek, Chimei Innolux, Compal Electronics

May 02, 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 gained 2.3 percent to 7,676.81, the biggest advance since Jan. 30.

Asustek Computer Inc. (2357) (2357 TT) surged by the 7 percent daily limit to NT$315.50, the highest close since May 2008. The company reported first-quarter net income of NT$5 billion, 28 percent higher than analyst estimates.

Chimei Innolux Corp. (3481) (3481 TT) advanced 6.2 percent to NT$12.85, the biggest jump since March 28. The flat-panel maker said shipments will climb 10 percent to 20 percent this quarter from the previous three months. It reported a first-quarter net loss of NT$12.8 billion, narrower than the NT$14.6 billion average loss of analyst estimates.

Compal Electronics Inc. (2324) (2324 TT) gained 6 percent to NT$35.60, the highest close since August 3. Macquarie Securities Ltd. raised its rating on Compal to outperform, the equivalent of buy, to reflect improving margins as a result of tighter cost controls. Shipments are set to improve on new orders, Macquarie said in a report.

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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