Bloomberg News

Taiwanese Stocks: Formosa Plastics, Inotera, Nanya Technology

July 05, 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 (TWSE) fell 0.5 percent to 7,387.78, its first decline in five days.

Formosa Chemicals & Fibre Corp. (1326) (1326 TT), a unit of Formosa Plastics Group, lost 1.2 percent to NT$75.3. The company said it posted a second-quarter loss of NT$6.14 billion ($205.8 million). That compared with a profit of NT$4.8 billion forecast by analysts in a Bloomberg survey.

Formosa Petrochemical Corp. (6505) (6505 TT), Taiwan’s only listed oil refiner, slid 0.9 percent to NT$81. The company said it posted a second-quarter pretax loss of NT$15.6 billion. That compared with an average estimate for profit of NT$2.32 billion.

Formosa Plastics Corp. (1301) (1301 TT), Taiwan’s biggest maker of polyvinyl chloride, dropped 0.9 percent to NT$80.4. The company said it posted pretax net income of NT$270 million in the second quarter, trailing the average estimate by analysts of NT$5.55 billion.

Inotera Memories Inc. (3474) (3474 TT), a chip maker, sank 3.5 percent to NT$7.08. The company said June sales dropped 0.5 percent from a year earlier to NT$3.27 billion.

Nan Ya Plastics Corp. (1303) (1303 TT), a maker of chemical fiber products, dropped 0.5 percent to NT$55.5. The company said it posted a loss of NT$2.72 billion in the second quarter. That compared with the average estimate by analysts of a pretax profit of NT$4.09 billion.

Nanya Technology Corp. (2408) (2408 TT), a chip maker, gained 0.4 percent to NT$2.51. Chairman Wu Chia-Chau said the company’s second-quarter loss narrowed “significantly,” without giving further details.

--Zhang Shidong. Editor: Allen Wan

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus