Taiwan: Stocks slip but heavyweight TSMC recoups early losses

[TAIPEI] Taiwan stocks slipped on Monday in their first trading session after the long Lunar New Year holidays, tracking gains in some regional bourses, with TSMC leading heavyweights higher.

As of 0214 GMT, the main TAIEX index was down 0.1 per cent at 8,047.97 points, erasing a 1.1 per cent slide at the opening.

Taiwan markets were closed Feb 4-12 for the New Year holidays.

Global markets saw stiff losses and extreme volatility during that period.

Taiwan Semiconductor Manufacturing Co (TSMC), the world's top contract chip maker, jumped 0.3 per cent, recovering from a loss of nearly 3 per cent earlier in the session.

TSMC is set to report its monthly sales after the market close.

The electronics subindex rose 0.1 per cent, while the financials subindex lost 0.8 percent.

The Taiwan dollar firmed T$0.315 to T$33.205 per US dollar.

REUTERS