Taiwan Stocks: Hung Seng, Taiwan Glass, United Microelectronics

Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the 1:30 p.m. close in Taipei.

The Taiex Index rose 142.85 points, or 2 percent, to 7,132.

Hung Sheng Construction Co. (2534 TT) gained 2.9 percent to NT$12.30, the biggest increase since Sept. 16. The construction company plans to buy back 20 million common shares, or 3.27 percent of its outstanding stock, the company said in a statement to the stock exchange yesterday.

Taiwan Glass Industrial Corp. (1802 TT) advanced 1.3 percent to NT$35.90. The glassmaker and Teco Electric & Machinery Co. (1504 TT) plan to invest NT$300 million ($9.79 million) to form a venture, United Evening News reported yesterday, without saying where it got the information. Teco increased 3.2 percent to NT$15.95.

Read more on the link below.

600450 Taiwan Stocks: Hung Seng, Taiwan Glass, United Microelectronics glassonweb.com
Date: 26 October 2011
Source: www.businessweek.com

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