Bloomberg News

Taiwan Stocks: Acer, Hon Hai Precision, Foxconn Technology Co.

May 11, 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 fell 1.1 percent to 7,401.37, the lowest close since Jan. 18. The gauge sank 3.9 percent this week, the biggest loss since the period to Nov. 26.

Acer Inc. (2353) (2353 TT) dropped 0.6 percent to NT$32, the lowest since Nov. 24. April sales fell 11 percent to NT$25.27 billion ($861 million), according to a statement filed to the Taiwan Stock Exchange.

Hon Hai Precision Industry Co. (2317) (2317 TT), a unit of Foxconn Technology Group, retreated 1.5 percent to NT$86.40, the lowest close since Jan. 16. Chairman Terry Gou said at a Shanghai groundbreaking for the company’s new headquarters that he’s aiming for at least 10 percent revenue growth this year. In December, Gou said revenue would climb not less than 15 percent this year.

Foxconn Technology Co. (2354) (2354 TT) slumped 4.9 percent to NT$97.50, the biggest decline since April 17. April sales fell 67 percent to NT$2.28 billion from a year earlier, according to a statement filed 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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