Bloomberg News

Taiwan Equity Movers: Dynapack, HTC Corp., Simplo Technology

May 25, 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 dropped 0.8 percent to 7,071.63. The gauge fell 1.1 percent this week, its third week of declines.

HTC Corp. (2498) (2498 TT) dropped 4 percent to NT$413. The smartphone maker’s earnings may decline in the next two years on lower shipments and margins, Barclays Plc wrote in a note. The brokerage cut the stock to underweight from equal-weight.

Simplo Technology Co. (6121) (6121 TT) sank 5.3 percent to NT$189.50, the biggest drop since Sept. 23. Dynapack International Technology Corp. (3211) (3211 TT) tumbled 6.5 percent to NT$144, the lowest close since Jan. 30. The battery pack makers may be hurt the most because shipments of Apple Inc.’s iPad in May and June may be revised lower on slower-than-expected demand amid an uncertain macroeconomic outlook, Dennis Chan, an analyst at Yuanta Securities Co., said by e-mail.

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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