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Taiwan: Stocks fall; TSMC down on profit taking

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[TAIPEI] Taiwan stocks fell on Tuesday, dragged down by big cap Taiwan Semiconductor Manufacturing Co Ltd (TSMC) on continued profit taking.

The main Taiex index continued to flirt with the key 10,000 mark and was down 0.3 per cent at 10,002.27 as of 0305 GMT, after closing 0.5 per cent higher in the previous session.

On Monday, it closed above the 10,000 level for the second time since last week when it posted its highest close in 17 years.

The index needs to consolidate around this level before gaining further, traders say.

The electronics subindex sank 0.6 per cent, while the financials subindex was unchanged.

Shares of TSMC, the world's largest contract chipmaker, were off 1.2 per cent, as investors continued to book profits after the stock gained around 11 per cent from mid-April to last week.

The Taiwan dollar firmed NT$0.063 to NT$30.095 per US dollar.

REUTERS

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