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Taiwan: Stocks weaker in last session before Lunar New Year break

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[TAIPEI] Taiwan stocks fell on Wednesday amid cautious trade on the last equities session before the long Lunar New Year break, although there was some interest in the shares of TSMC, the world's largest contract chipmaker.

The island's stock market will be shut from Thursday, while its currency and money markets will remain open until the end of Friday's session.

All Taiwan's financial markets will resume trading as usual on Feb 15.

As of 0151 GMT, the main TAIEX index fell 0.9 per cent, to 8,059.01 points, after closing 0.3 per cent lower on Tuesday, breaking a five-session winning streak.

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The electronics subindex sank 0.5 per cent, while the financials subindex lost 2.2 per cent.

Shares in TSMC were up more 1 per cent. The board of the chipmaker on Tuesday approved a T$6 (S$0.26) cash dividend per share, lending optimism to investors for its business outlook despite weak global demand.

On Wednesday, Taiwanese regulators are expected to review the company's plan to build an advanced plant in China in an investment worth $3 billion.

The Taiwan dollar firmed T$0.191 to T$33.489 per US dollar.

REUTERS

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