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Taiwan: Stocks fall as China easings shrugged off; TSMC, Mediatek down
[TAIPEI] Taiwan stocks fell on Wednesday morning as sentiment remained fragile after Wall Street lost ground despite aggressive easings by China's central bank the previous day, with declines led by blue-chips such as TSMC.
As of 1.40 GMT, the main TAIEX index was off 0.8 per cent, to 7,613.24 points, with the electronics subindex giving up 0.5 per cent and the financials subindex dropping 0.6 per cent.
On Tuesday, the main ended up 3.6 per cent after the government said a large state-supported fund will step in "any time" to shore up the sagging market.
TSMC, the world's top contract chip maker, was off 1.6 per cent. Mediatek, Taiwan's biggest chip design house, lost 2 per cent.
The Taiwan dollar firmed TW$0.311 to TW$32.568 per US dollar.