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Taiwan: Stocks hit one-week low after Wall Street drops; TSMC drags

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[TAIPEI] Taiwan stocks fell to one-week lows in a supplementary session on Saturday, tracking overnight losses on the Wall Street, with TSMC dropping 1 per cent.

As of 0230 GMT, the main Taiex index fell 1.3 per cent to 9,042.20 points, the lowest since Sept. 6, after closing at 9,164.88 points in the previous session.

Taiwan market was open on Saturday to make up for a Mid-Autumn festival holiday next week.

Shares in Taiwan Semiconductor Manufacturing Co (TSMC), an Apple supplier and the world's biggest contract chip maker, dipped 1 per cent. The company announced its sales results for August on Friday.

The electronics subindex and the financials subindex both fell 1.4 per cent. The Taiwan dollar softened NT$0.032 to NT$31.542 per US dollar.

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Stocks across the globe fell the most since June on Friday, weighed by comments from Federal Reserve officials that lifted bets on an interest rate hike and after German trade data cast doubt on the strength of the euro zone's largest economy.


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