Taiwan: Stocks retreat from more than 1-year high; TSMC down as sales slip

[TAIPEI] Taiwan stocks retreated from a more than one-year high on Thursday, as heavyweight TSMC, the world's biggest contract chipmaker, posted a 5.6 per cent fall in July sales from a year earlier.

As of 0312 GMT, the main Taiex index was down 1.3 per cent at 9,079.59, pulling back from its highest intraday level since July 2015 in the prior session.

The electronics subindex and the financials subindex both shed more than 1.2 per cent.

Taiwan Semiconductor Manufacturing Co (TSMC) fell as much as 2.2 per cent.

The Taiwan dollar firmed against the US dollar, and was at NT$31.210.

REUTERS