Uni-President shares rise on report of China venture

Uni-President Enterprises Corp. shares rose to a record Saturday on a report Taiwan's biggest processed-food maker will take a stake in a Chinese company to make non-woven fabrics and hygiene paper. Uni-President gained 2.8 percent to NT$51.40 at the 1:30 p.m. close in Taipei Saturday, compared with a 0.7 percent rise in the benchmark Taiex index. The food maker will take a 25 percent stake in a venture with diaper and facial tissue maker Kang Na Hsiung Enterprise Co., the Economic Daily reported Saturday.

Kang Na will reportedly take a 75 percent stake in the venture. Its shares jumped 6.9 percent to NT$23.95.