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 Taiex Index rose 0.9 percent to 7,334.63, the highest close since May 29.
Flat-panel makers: Chimei Innolux Corp. (3481) (3481 TT), the largest flat-panel maker in Taiwan, advanced 2.1 percent to NT$12.30, the highest close since May 31. AU Optronics Corp. (2409) (2409 TT), the second-largest, rose 1.3 percent to NT$12.15.
Eight mainland companies are expected to purchase up to $4.5 billion worth of television panels from the Taiwanese manufacturers, the Xinhua News Agency reported yesterday.
Touch Panel Makers: TPK Holding Co. (3673) (3673 TT) jumped 3.5 percent to NT$478, the highest close since March 28. Young Fast Optoelectronics Co. (3622) (3622 TT), climbed 4.8 percent to NT$65.30, the highest since May 7. Young Fast’s rating was raised to neutral from underperform, the equivalent of sell, by Jerry Su and Jimmy Huang, analysts at Credit Suisse Group AG wrote in a note. TPK will benefit the most among Taiwan suppliers from the release of new tablets as it makes touch panels for all key tablet models, according to the note.
Yang Ming Marine Transport Corp. (2609) (2609 TT) rose 2 percent to NT$12.90, headed for the highest close since May 11. The transport company was raised to hold from sell by Sky Hong, an analyst at Deutsche Bank AG.
To contact the reporter on this story: Ee Chien Chua in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com