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Taiwan: Stocks fall on weaker overseas markets, technical selling in TSMC

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[TAIPEI] Taiwan stocks fell on Monday tracking weakness in overseas markets and on technical selling in heavyweight chipmaker TSMC.

Most Asian shares slipped in early trade on Monday after Federal Reserve Chair Janet Yellen indicated a possible rate hike in the US later this year.

As of 0244 GMT, the main TAIEX index fell 0.7 per cent to 9,070.84, after closing up 0.2 per cent in the previous session.

The electronics subindex fell 0.7 per cent, but the financials subindex gained 0.1 per cent.

TSMC was off 1.1 per cent. Shares in the bellwether chipmaker hit an all-time high earlier this month when it closed at NT$179.50 on Aug 10.

Display makers AU Optronics Corp and Innolux Corp were both down around 2 per cent.

Shares in Mega Financial, the centre of a probe in Taiwan following a rare fine in the US for anti-money laundering violations, were down 0.5 per cent.

The Taiwan dollar softened NT$0.152 to NT$31.824 per US dollar.