Bloomberg News

Taiwan Stocks: Chimei Innolux, Deltamac, Far Eastone Telecom

June 26, 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 Taiex Index fell 0.4 percent to 7,137.93, the fourth day of declines and the longest losing streak since March 20. The gauge has climbed 0.9 percent this year, its first six-month gain since the second half of 2010.

Chimei Innolux Corp. (3481) (3481 TT) retreated 2.8 percent to NT$12.10, the biggest drop since June 4. The island’s biggest flat panel maker approved a plan to sell 600 million new shares, according to a statement to the Taiwan Stock Exchange.

Deltamac Taiwan Co. (6144) (6144 TT) surged 6.9 percent to NT$10.90, the biggest advance since May 25. Japan’s Culture Convenience Club Co. plans to pay NT$244 million for a 33.4 percent stake in the film distributor in a private placement, Deltamac said in a statement to the stock exchange.

Far Eastone Telecommunications Co. (4904) (4904 TT) gained 1.4 percent to NT$65.40. The phone operator was raised to neutral from underweight at HSBC Holdings Plc.

MStar Semiconductor Inc. (3697) (3697 TT) surged for a second day, gaining 6.2 percent to NT$207, the highest since May 18. Mediatek Inc. (2454) (2454 TT) agreed to buy the chip designer in a deal worth $3.8 billion, both companies said in a statement on June 22. Mediatek retreated 2.1 percent to NT$274.50.

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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