Sunday, December 26, 2010

Taiwan Stocks Preview ; China Steel, Evergreen, Powerchip, TSMC

Taiwan Stocks Preview ; China Steel, Evergreen, Powerchip, TSMC ; The following companies may have unusual price changes in Taipei trading. Stock symbols are in parentheses, and shares are as of the last close. Taiwan’s Taiex index fell 37.77, or 0.4 percent, to 8,861.10.

Big Sun Energy Technology Inc. (3566 TT) : The Hsinchu, Taiwan-based solar-cell maker plans to sell 15 million new shares at NT$21 each to help fund factory construction and equipment purchases, it said in a statement to the stock exchange on Dec. 24. The stock increased 1.7 percent to NT$18.4.

China Steel Corp. (2002 TT) : Taiwan’s largest steelmaker halted production at its Kaohsiung mill after a power outage yesterday morning, Hung Jui-pin, a public relations officer, said by phone today. The stock rose 0.2 percent to NT$32.80.

Evergreen Marine Corp. (2603 TT) : Asia’s largest container shipping line named chief executive vice president Chang Cheng- yung as president, replacing Wang Chung-jinn, effective from Jan. 1, the company said in a statement to the Taiwan Stock Exchange on Dec. 24. Wang was named as vice chairman. The stock lost 0.2 percent to NT$28.65.

First Financial Holding Co. (2892 TT) : First Commercial Bank signed an agreement for financial cooperation with Bank of China Ltd., parent First Financial said in a statement to the Taiwan Stock Exchange on Dec. 24. The stock closed unchanged at NT$24.3.

Hon Hai Precision Industry Co. (2317 TT) : The world’s largest contract manufacturing service firm for electronics and communication products plans to acquire control of a liquid- crystal display venture between Japan’s Hitachi Ltd. an Canon Inc. for 100 billion yen ($1.2 billion), the Nikkei newspaper reported.

The companies are in final negotiations for Hon Hai to acquire 50 billion yen in each of two private offerings from the venture over the next two years, dropping Hitachi’s stake from 30 percent from 75.1 percent, according to the report. Hon Hai stocks fell 0.9 percent to NT$117.

Hota Industrial Manufacturing Co. (1536 TT) : The company got a seven-year NT$1.5 billion loan from a group of lenders to help repay debt and boost working capital, Land Bank of Taiwan said in a statement on its website on Dec. 24. Hota stock fell 1.6 percent to NT$15.30.

Taiwan Semiconductor Manufacturing Co. (2330 TT) : The world’s largest contact chipmaker is in talks to buy a building from Powerchip Technology Corp. to expand production capacity, the Commercial Times reported, citing an unidentified official at TSMC. The stock lost 0.3 percent to NT$70.8. Powerchip stock fell 1.9 percent to NT$5.74.
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